Seven & I downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Seven & I to Neutral from Overweight with a price target of 2,800 yen, up from 2,500 yen. The firm lowered its earnings estimates to reflect Q2 results, downward revisions to Seven & i Holdings’ guidance, and the business environment, but raised its price target in light of the recent greater prospect of a management buyout by the company’s founding family, the analyst tells investors.