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Posted by
Two Blokes Jul 8 -
Filed in
Stock
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6 views
I'm upgrading Sumitomo Corporation to Buy, taking into account cautious management guidance and stock price appreciation potential. I expect an upward revision in earnings guidance after Sumitomo's Q1 FY25 results announcement; the company's current outlook is too conservative and financial contributions from its nickel mine project might surprise on the upside. SSUMY stock trades at a discount to peers on P/B, with visible catalysts including improved capital returns and sustained high ROE supporting a re-rating.
