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DJ NGK Spark Plug Appears Undervalued to Nomura -- Market Talk

· 02/07/2021 23:51

0451 GMT - NGK Spark Plug's stock appears highly undervalued, Nomura says, citing the company's sales and operating profits, which reached all-time quarterly highs in the December quarter. NGK's product mix and cost reduction seem to have improved, and the spark-plugs maker could benefit from more shipments of value-added products, including wide-range sensors for the auto market in China, Nomura says. It maintains a buy rating and raises its target price to Y3,100 from Y3,000. Shares fall 6.9% to Y1,996. (justina.lee@wsj.com)

(END) Dow Jones Newswires

February 07, 2021 23:51 ET (04:51 GMT)

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