SoftBank Group initiated with a Buy at BTIG

BTIG initiated coverage of SoftBank Group (SFTBY) with a Buy rating and 5,400 yen price target citing the “unmatched scale and diversification across the AI value chain” of its portfolio as well as management’s “proven ability to identify transformational technology investments early.” SoftBank has unique strategic positioning to capitalize on the convergence of AI and robotics “in a way no other company has attempted,” while the holding company structure provides the downside protection that isolated high-conviction bets typically lack, the analyst contends.