01:25 AM EDT, 05/13/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price of USD35, reflecting a FY 25 (Mar.) P/E of 7.9x on a higher FY 25 EPS forecast of JPY690 (from JPY621). Honda Motor ( HMC ) posted FY 24 EPS of JPY678 (vs. an EPS of JPY384 in FY 23). Revenue rose 21% year-over-year (Y/Y) to JPY20 trillion in FY 24, driven by the automobile business and financial services business operations. We forecast FY 25 and FY 26 revenues to grow 2% and 3% Y/Y, respectively. Profitability outlook remains intact, in our view, helped by cost-cutting efforts through capacity rationalization and adoption of modular production platform (i.e., Honda Architecture), which reduces development time and improves production efficiency. We maintain our Hold opinion, as we think the year-to-date strong stock price performance has priced in the rebound in consumer spending power, while we see increasing challenges in China's NEV market. We initiate a FY 26 EPS forecast of JPY729.