Central Japan Railway Co

9022: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	¥‎7,794.00	Zkmghrb	Wwvksdq

JR Central: Rebound in Passenger Demand Delivers Strong Earnings Recovery

Adrian Atkins

Feb 6, 2024

Central Japan Railway Company, or JR Central, upgraded EBIT guidance for the year ending Mar. 31, 2024, by 7% to JPY 506 billion following a robust December quarter. The upgrade stems from a faster-than-expected recovery in domestic and inbound tourist passenger demand following the pandemic. We upgrade our near-term forecasts in line with guidance while leaving longer-term expectations largely unchanged. We maintain our JPY 3,400 per share fair value estimate and consider the stock fairly valued at current prices.

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