2024-02-25 00:04:48 ET
Summary
- Japan's asset management industry has favorable growth prospects, and this puts a leading financial services player like Sumitomo Mitsui Financial in a good position to increase its future fee income.
- SMFG's net interest income growth outlook is positive, considering the reasonably high probability of Japan initiating a rate hike in the near term.
- My investment rating for SMFG is upgraded to a Buy, as I think that the stock doesn't deserve to trade at a significant discount to book value.
Elevator Pitch
Sumitomo Mitsui Financial Group, Inc. ( SMFG ) [8316:JP] shares are assigned a Buy rating....
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For further details see:
Sumitomo Mitsui Financial: A Bright Future Ahead (Rating Upgrade)