Jefferies Doubles Down on SoftBank as Bond Retirement and AI Rally Lift the Stock
Published on 10/28/2026 at 20:21 | Editorial boerse-global.de
SoftBank Group shares climbed 3.0% on Monday, with the advance coinciding with a sweeping upgrade from Jefferies, which lifted its rating on the Japanese conglomerate from "Underperform" to "Hold" and more than doubled its price target, from JPY 3,140 to JPY 7,270. Media reports pointed to the analyst move as a likely catalyst for the gain. The rally also unfolded against a broader surge of enthusiasm for Asian AI stocks, which Reuters linked to anticipation ahead of quarterly results from major US technology companies and to a strong quarterly operating profit report from SK Hynix. SoftBank had already risen in the previous session alongside other Japanese AI names after a rally on Wall Street.
Euro Note Wound Up Ahead of Schedule
On the corporate side, SoftBank confirmed Friday that it had completed the early repayment and cancellation of all of its euro-denominated senior notes. The bonds carried a 2.875% coupon and had been due on 6 January 2027; none of the notes remain outstanding, according to the company.
The same day, the group's board approved an interim dividend of JPY 5.50 per share for the fiscal year ending 31 March 2027, payable on 2 December.
Should investors sell immediately? Or is it worth buying SoftBank Group?
Malaysia: A USD 50 Billion Figure SoftBank Won't Confirm
Attention has also focused on SoftBank's plans in Malaysia. Prime Minister Anwar Ibrahim said on Sunday that Chairman and CEO Masayoshi Son had selected Kuching and peninsular Malaysia as sites for planned investments in artificial intelligence, new technologies and data centres, with the total reportedly reaching USD 50 billion. SoftBank, for its part, said only that it is examining opportunities in AI and digital infrastructure in the country — it did not confirm the sum or any binding commitment.
The groundwork predates that statement. On 8 October, SoftBank Group, Grab Holdings and Petroleum Sarawak Berhad signed a framework agreement to explore a possible AI and digital infrastructure platform in the Malaysian state of Sarawak, a pact that initially covers the study of potential projects.
Allied Universal Report Adds to the Deal Chatter
Separately, Reuters reported on 16 October that SoftBank is weighing an acquisition of Allied Universal from its owners, in a potential transaction that would value the US security services provider at around USD 18 billion. Talks were described as early-stage, with no final decision reached.
Investors get their next hard look at the group's numbers on 10 November, when SoftBank reports second-quarter results for fiscal 2026, covering the six months through 30 September 2026.
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