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)
Copyright (c) 2022 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.