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Mitsukoshi Isetan and Morgan MUFG Securities have downgraded to "Equal Weight."
Morgan Stanley MUFG Securities has downgraded the investment rating for Isetan Mitsukoshi Holdings <3099.T> from a bullish "Overweight" to a neutral "Equal Weight" as of the first day. The target price has been reduced from 3,200 yen to 2,200 yen, considering its high sensitivity to the economy. Provided by Wealth Advisor Co.
In April, the revenue of domestic Department Stores for Mitsukoshi Isetan decreased by 1.5% compared to the same month last year, marking the second consecutive month of being lower than the previous year.
Mitsukoshi Isetan Holdings <3099.T> announced its monthly sales report for April on the 1st. The total sales of domestic Department Stores decreased by 1.5% compared to the same month last year, marking two consecutive months below the previous year's figures. According to the company, in that month, apparel items such as jackets, blouses, skirts, and pants from luxury brands and designer brands primarily in the metropolitan area showed growth, as did jewelry, Cosmetics, and accessories. It was also noted that highly unique events and exhibitions contributed to attracting customers from both domestic and international markets.
Rating information (investment decision changes - part 2) = Misumi G, Mitsukoshi Isetan, ETC.
◎ Tachibana Securities (5 levels: Bullish > Slightly Bullish > Hold > Slightly Bearish > Bearish) Misumi G <9962.T> -- "Slightly Bullish" → "Hold" ◎ SBI Securities (3 levels: Buy > Hold > Sell) Mitsukoshi Isetan <3099.T> -- New "Buy" at 2,700 yen ◎ CLSA Securities (3 levels: HC Outperform > Outperform > Hold > Underperform > HC Underperform) Tokyo Metro <9023.T> -- "Hold" → "Underperform", 1,630 yen →
<Rating Change Observation> Upgrading of Mitsukoshi Isetan / Taiyo HD, downgrade of Tokyo Metro, ETC.
◎ New and resumed: Mitsukoshi Isetan <3099.T> ― Internet-based at the top of three tiers. ◎ Upgrade: Shin-Etsu Chemical <4063.T> ― Domestic mid-sized at the top of three tiers. Taiyo HD <4626.T> ― Bank-based at the top of three tiers. Resona HD <8308.T> ― Domestic major at the top of three tiers. ◎ Downgrade: Tokyo Steel <5423.T> ― Domestic mid-sized in the middle of five tiers. Tokyo Metro <9023.T> ― Foreign-affiliated at 4th place in five tiers. Misumi Group <9962.T> ― Domestic medium-sized in the middle of five tiers.
SBI Securities Starts Isetan Mitsukoshi at Buy With 2,700 Yen Price Target
Express News | [Change Report] Nomura Securities reports an increase in the shareholding ratio of Isetan Mitsukoshi Holdings (3099.JP) to 6.75%.
