SMC Corp. upgraded to Conviction Buy from Buy at Goldman Sachs

Goldman Sachs analyst Yuichiro Isayama keeps a Buy rating on SMC Corp. with a price target of 103,000 yen, up from 92,000 yen, and added the stock to the firm’s Conviction List, citing bullish views regarding the U.S. and semi exposure. The upside implied by its new target is among the highest in the firm’s sector coverage and Goldman thinks SMC’s “strong fundamentals will be preferred further by the equity market.”