SSUMF - Sumitomo Corporation: Still Neutral After Reviewing Results And Financial Targets
2024-05-09 03:59:29 ET
Summary
- Sumitomo Corporation's headline earnings for FY 2023 were -23% below expectations, and this bottom-line miss is largely attributed to impairments.
- The company aims to achieve a ROE of 12% in FY 2026, which is reflected in its P/B valuation metric based on a Gordon Growth Model valuation analysis.
- I stay Neutral on Sumitomo Corporation, following an evaluation of its recent fiscal year results and its financial goals.
Elevator Pitch
I have a Hold investment rating for Sumitomo Corporation ( OTCPK:SSUMF ) ( OTCPK:SSUMY ) [8053:JP]....
Sumitomo Corporation: Still Neutral After Reviewing Results And Financial Targets