Goldman Sachs Downgrades Sony Corp. (SNE) to Neutral
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Price: $20.97 --0%
Rating Summary:
8 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 23 | New: 22
Rating Summary:
8 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 23 | New: 22
Trade SNE Now!
Goldman Sachs downgraded Sony Corp. (NYSE: SNE) from Buy to Neutral citing the impact from the Japanese earthquake and LCD TV demand.
On the earthquake the firm states, "We see a relatively large direct impact and a surprisingly large indirect impact on Sony. Production bottlenecks may cause opportunity losses as Sony is very dependent on external sources for the semiconductors used in its LCD TVs and digital cameras."
Goldman also bothered by the severe LCD TV demand slump and price competition it creates.
For more ratings news on Sony Corp. click here and for the rating history of Sony Corp. click here.
Shares of Sony Corp. closed at $31.83 yesterday, with a 52 week range of $25.85-$38.67.
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On the earthquake the firm states, "We see a relatively large direct impact and a surprisingly large indirect impact on Sony. Production bottlenecks may cause opportunity losses as Sony is very dependent on external sources for the semiconductors used in its LCD TVs and digital cameras."
Goldman also bothered by the severe LCD TV demand slump and price competition it creates.
For more ratings news on Sony Corp. click here and for the rating history of Sony Corp. click here.
Shares of Sony Corp. closed at $31.83 yesterday, with a 52 week range of $25.85-$38.67.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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