Analysts Predict Higher Sumitomo OP than Management

Deutsche Bank analysts are more optimistic than the management when it comes to predicting future results. The analysts forecast that Sumitomo will achieve 13 per cent more operating profit than the management predicts. “Working off our new…forecasts and historical 12-month valuations we lower our target price from 1,700 yen to 1,500 yen but maintain our Hold rating,” the report commented. “However, we still think it may only just sustain single-digit profit growth given the significant pull impact of rising input costs,” they added.