Citi downgraded NS Solutions to Neutral from Buy with a price target of 4,700 yen, up from 4,500 yen. The firm also nudges up its forecasts based on Q2 results, and lifts its 2023/2024 OP forecast to 34.3B yen from 33.5B yen and its EPS forecast to 255 yen from 249 yen. With the recent run-up in the shares, Citi’s expected total return is only 7.0%, thus moving to the sidelines.
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