The 77 Bank shares renewed their all-time high since listing, rising to ¥4,113 in morning trading. Nomura Securities raised its target price from ¥2,767 to ¥4,910. Expectations for higher interest rates are also viewed as providing a tailwind.
The 77 Bank shares extended their gains in morning trading, rising ¥140 from the previous Friday's close to ¥4,113 at one point and renewing their all-time high since listing.
In a report dated the 11th, Nomura Securities raised its target price for The 77 Bank from ¥2,767 to ¥4,910, signaling a reassessment of the outlook for the shares.
Expectations for further interest-rate increases have been cited as a background factor, with some viewing them as supporting investors' willingness to buy.