0510 GMT - Profit growth of Toray Industries' carbon fiber composite materials segment looks positive, SMBC Nikko Securities analysts say, noting stronger-than-expected growth in 1Q of this FY. Carbon fiber composite materials segment's core operating profit increased 71% in 1Q, with growth for all major applications in addition to higher shipments for Boeing 787 Dreamliner, the analysts say in a note. This growth seems sustainable, says the brokerage, which expects the segment to keep reporting major profit growth for a while. The brokerage raises the stock's target price to 1,700 yen from Y1,300 with an unchanged outperform rating. Shares are 1.1% higher at Y1,348.5.
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