0220 GMT - TIS's sales in 2Q are likely to be supported by its strong order backlog and may rise 3.5% on year to Y125.1 billion versus a consensus estimate of Y125.8 billion, Jefferies analysts Hiroko Sato and Hangil Moon say. "TIS has undertaken a company-wide efficiency improvement program, which is slowly starting to have a positive impact on earnings," they say in a research note. Jefferies raises the stock's target price to Y4,040 from Y3,700, but maintains a hold rating as its valuation looks expensive. The stock is 0.1% lower at Y4,015, having risen around 65.5% in the past six months. (justina.lee@wsj.com)
(END) Dow Jones Newswires
September 21, 2022 22:20 ET (02:20 GMT)
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