Warren Buffett's Big Bet on Japan Trading Firms Helps Push Analyst Targets Up
- Mitsubishi Corp. among firms with biggest target price boost
- Warren Buffett’s endorsement has lifted shares to records
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Analysts are rushing to raise target prices on Japanese trading companies as Warren Buffett’s increased holdings drive their shares to record highs.
Four of the top 10 firms that saw the steepest target increases among Japan’s largest companies were trading houses, according to data compiled by Bloomberg. The nation’s Topix Wholesale Trade Index, which includes the five biggest trading companies, was the top performing sector Tuesday, after Berkshire Hathaway Inc. said it raised its stake further in the firms to an average of over 8.5%.