Goldman Sachs Puts 'Buy' Rating on Jtekt with ¥2,700 Price Target

Goldman Sachs has initiated coverage of Jtekt Corp., assigning it a 'Buy' rating and setting a price target of JPY2,700.00.

The investment bank expects Jtekt's business profit growth to reach a compound annual rate of 12% over the fiscal years ending March 2026 through March 2029, surpassing the 8% average for Japan auto parts companies covered by Goldman Sachs.

Sales of steer-by-wire systems are expected to expand alongside autonomous driving development, while actuator products have significant growth potential, with a key role in humanoid robots by 2035.