Jefferies Downgrades Nomura (NMR) to Hold

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Jefferies downgraded Nomura (NYSE: NMR) from Buy to Hold and cut their price target to ¥289, which is 0.5x PBR and 5% potential upside as of 14 June close.

"We believe this multiple is appropriate when compared with global peers' PBR vs ROE. Recent negative newsflow and the uncertainty surrounding Nomura also contribute to our more cautious rating," the firm said.

For an analyst ratings summary and ratings history on Nomura click here. For more ratings news on Nomura click here.

Shares of Nomura closed at $3.29 yesterday, with a 52 week range of $2.91-$5.04.

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