0223 GMT - NTT Data's overseas business will likely be a key medium-term earnings driver, given that the company is seeing gradual investment returns from both its U.S. and EMEA markets, Jefferies analysts Hiroko Sato and Hangil Moon say in a research note. While there may be concerns over the performance of the Japanese IT company's domestic business, effects of a macroeconomic slowdown may be limited, the analysts say. "Since many of NTT Data's clients are industry leaders, we do not expect any sudden cuts to their IT budgets, even against a macro slowdown," they add. Jefferies maintains a buy rating but cuts its target price to Y2,340 from Y2,700 due to its discounted valuation. Shares are 0.7% higher at Y1,976. (justina.lee@wsj.com)
(END) Dow Jones Newswires
October 05, 2022 22:23 ET (02:23 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。