Japan: Kirin’s target price lifted up by analysts

The Morgan Stanley’s analysts hold their "equal weight" rating for Kirin Brewery. The target price was increased from ¥1000 to ¥1130, the Newratings agency announced on October 11.

In a research note edited on October 11, the analysts say that the operating profit estimates for the company for FY05 and FY06 were lifted up from ¥107.7 billion to ¥111.0 billion and from ¥113.2 billion to ¥125.3 billion, accordingly.

This increased trend in the operating profit estimates shows the strong sales of Kirin Brewery’s new Nodogoshi Nama category and the company’s continued market share extension in the low-malt beer segment, according to Morgan Stanley.

13 October, 2005