Nomura has lifted its target price on SoftBank (9984.JP) from JPY11,550 a share to JPY12,770 a share.
SoftBank is a major shareholder of Chinese e-commerce giant Alibaba (BABA) shareholder and is the parent of U.S. mobile network operator Sprint (S). The recent strong performance by the two companies has prompted analyst Daisaku Masuno, who has a buy rating on SoftBank, to upgrade his target price on the Japanese tech and telecom giant:
But what's more exciting is SoftBank's potential to become an innovator following its acquisition of semiconductor and software design company ARM Holdings:
SoftBank shares are up 15% this year and trade at 15 times forward earnings, which is slightly above a five-year average of 14 times.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
