Research from Mita Securities, Mita Securities

Mita Securities

Mita Securities provides a full scale diversified investment banking and financial services. A comprehensive investment banking department, specializes in rights offerings advisory, take-over bids agents, M&A etc. Including a proprietary trading desk, and wealth management department that offers brokerage, custody, real estate, and full proxy services.

Research from Mita Securities

Equity Bottom-Up

<ul><li>We updated our earnings forecast for AB Hotel (6565, the company) and raised our target price to 1,600 yen from 1,400 yen. We reiterate our Buy rating.</li><li>On January 31, the company announced 1-3Q (Apr-Dec) FY3/22 OP of 667m yen (+757.0% YoY; OPM 14.1%), 74% progress toward the company’s full-year guidance of 900m yen</li><li>We raised our OP forecasts from 681m yen to 929m yen (+1,995.4% YoY; OPM 14.7%) for FY3/22, 1.355bn yen to 1.495bn yen (OPM 21.2%) for FY3/23</li></ul>

We updated our earnings forecast for AB Hotel (6565, the company) and raised our target price to 1,600 yen from 1,400 yen. We reiterate our Buy rating.On January 31, the company announced 1-3Q (Apr-Dec) FY3/22 OP of 667m yen (+757.0% YoY; OPM 14.1%), 74% progress toward the company’s full-year guidance of 900m yenWe raised our OP forecasts from 681m yen to 929m yen (+1,995.4% YoY; OPM 14.7%) for FY3/22, 1.355bn yen to 1.495bn yen (OPM 21.2%) for FY3/23

AB Hotel (6565): Raising TP; Profit Recovery Ahead of Industry; New Store Development to Restart

ABHotel Co Ltd

AB Hotel (6565): Raising TP; Profit Recovery Ahead of Industry; New Store Development to Restart