Nomura Securities Upgrades Honda Motor Co. (HMC) to Buy; Better-Than-Expected Sales Release

Nomura Securities upgraded Honda Motor Co. (NYSE: HMC) from Neutral to Buy.

Analyst, Masataka Kunugimoto, said, "Upgrade to Buy on better-than-expected sales in Japan and US. We think the stock has been oversold given Honda's solid finances and strong earnings structure, which helps the company shrug off downturns in the general economy. Honda's share of the key US market has been recovering faster than expected, coming in at over 10% in Apr–May. We expect earnings to remain on an upward trajectory owing to the release of new versions of the Acura and the Accord. Medium term, Honda looks to increase its production capacity in regions with growth prospects and low manufacturing costs (Mexico, Indonesia, and China). We see little downside risk now that the share price."

For an analyst ratings summary and ratings history on Honda Motor Co. click here. For more ratings news on Honda Motor Co. click here.

Shares of Honda Motor Co. closed at $32.34 yesterday.

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