0214 GMT - Shiseido's restructuring and improved capital efficiency are likely to be viewed positively by the market, Nomura analyst Yuji Ohana says in a research report as the investment bank raises the stock's target price to Y6,000 from Y5,850 with an unchanged buy rating. The Japanese cosmetics company's 1Q results showed solid sales and better earnings after its restructuring, the analyst notes. Shiseido has made progress in improving the efficiency of investments in mainstay brands in each region, and its earnings now seem more likely to improve as sales recover, the analyst says. Nomura raises its 2024 core operating profit forecast for Shiseido to Y66.8 billion from Y65.0 billion. Shares are 0.7% higher at Y5,013. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 28, 2024 22:14 ET (02:14 GMT)
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