Nomura Securities Upgrades Trend Micro (TMICY) to Buy

Nomura Securities upgraded Trend Micro (OTC: TMICY) (4704.T, 4704 JP) from Neutral to Buy and raise its price target from JPY 4,900 to JPY 5,600

Analyst Chikai Tanak commented, "We raise our rating on Trend Micro from Neutral to Buy. We do so mainly for the following four reasons. First, the global cybersecurity market is likely to expand over the medium term, as increasingly serious cyberattacks have led to a sharp increase in the need for cyberdefense. Second, Japan has been lagging behind the West in this regard, and may step up investment in IT security in response to the data leak at the Japan Pension Service and the introduction of the My Number scheme. Third, we think the spread of the cloud will ensure sustained growth in sales of cloud security products. Fourth, the acquisition of TippingPoint, the impact of which remains to be seen, gives Trend Micro an avenue into network security, and may boost the competitiveness of its total solutions, including endpoint security, in which it has a strong position."

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

Shares of Trend Micro closed at $37.25 yesterday.

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