0349 GMT - Disco's 2026 results should be supported by generative artificial-intelligence-related demand, Jefferies analysts say in a note. Disco's tools and equipment are used to cut, grind and polish semiconductor wafers. Second-quarter shipments on an unconsolidated basis rose 6% on quarter to 123.9 billion yen, setting a record high for a third straight quarter, the U.S. bank says. Although the figure was below the bank's projection, it likely exceeded the company's internal target, Jefferies says. While the stock lacks near-term catalysts, the bank forecasts healthy earnings expansion over the medium term, it says. Jefferies maintains its buy rating and target price of Y76,000 on the stock. Shares are down 7.2% at Y60,770.