0248 GMT - Sales of TIS Inc. are likely to be supported by a large order backlog and more orders received in 2Q that tend to be in bulk size, Jefferies analysts Hiroko Sato and Hangil Moon say in a research note. The analysts reckon the technology company should be able to generate 3%-4% on-year sales growth in 2Q, adding that TIS appears to be on track to meet its sales target this fiscal year. "Overall impression is positive. We look for it to maintain the Q1 momentum," they add. TIS's 1Q net profit rose 4% on year to Y118.1 billion. Jefferies maintains its hold rating and target price of Y3,700. Shares are 0.9% higher at Y3,865. (justina.lee@wsj.com)
$(END)$ Dow Jones Newswires
August 04, 2022 22:48 ET (02:48 GMT)
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