Little Change in our View for Mitsubishi Heavy Industries Following its 3Q Results, FVE at JPY 5,100
This is little change in our outlook for no-moat Mitsubishi Heavy Industries, or MHI, following its third-quarter fiscal year 2017 (for financial year ending March 2018) results. Guidance was largely unchanged except for a cut in power segment orders, which supports our view for sluggish power turbine demand for the next few years. The industry & infrastructure segment remains the growth driver on strong sales of turbochargers and forklifts. This is in line with our assumptions for 5%-6% top...
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