Goldman Sachs Sets ¥2,700 Price Target for Jtekt Corp.

Goldman Sachs has initiated coverage of Jtekt Corp., assigning it a buy rating and setting a price target of ¥2,700.00.

The investment bank expects Toyota's vehicle production ramp-up to drive Jtekt's business profit growth at a compound annual rate of 12% over fiscal years ending March 2026 through March 2029.

Goldman Sachs analyst Kota Yuzawa noted that Jtekt has commercialized steer-by-wire systems ahead of competitors, which will likely expand alongside autonomous driving development.