JPMorgan analyst Koki Sato upgraded Nomura (NMR) to Overweight from Neutral with a price target of 1,440 yen, up from 1,430 yen. The strength of the company’s core business is not priced into the shares, the analyst tells investors in a research note. JPMorgan sees the “gap” between Nomura’s theoretical and share value has widened.
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