Nomura Securities Maintains a 'Neutral' on Sony Corp. (SNE); Smaller TV Losses, But Uncertainty Creeping
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Price: $106.01 --0%
Rating Summary:
11 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on Sony Corp. (NYSE: SNE).
Analyst, Shiro Mikoshiba, said, "While we see positive signs such as narrower-than-expected losses on TVs, earnings uncertainty seems to be strengthening. Owing in part to yen appreciation, management substantially lowered its sales forecasts for key products including TVs, games and digital cameras. The mobile products & communications segment reported heavy operating losses, and the hurdles to improving profitability now seem higher than we previously thought. We still regard downsizing and product strategies worthy of the Sony brand as indispensable preconditions of any share price upside. We slightly revise our earnings estimates to reflect changes to our EUR/JPY assumption from 106 to 97, and accordingly lower our target price."
For an analyst ratings summary and ratings history on Sony Corp. click here. For more ratings news on Sony Corp. click here.
Shares of Sony Corp. closed at $11.24 yesterday.
Analyst, Shiro Mikoshiba, said, "While we see positive signs such as narrower-than-expected losses on TVs, earnings uncertainty seems to be strengthening. Owing in part to yen appreciation, management substantially lowered its sales forecasts for key products including TVs, games and digital cameras. The mobile products & communications segment reported heavy operating losses, and the hurdles to improving profitability now seem higher than we previously thought. We still regard downsizing and product strategies worthy of the Sony brand as indispensable preconditions of any share price upside. We slightly revise our earnings estimates to reflect changes to our EUR/JPY assumption from 106 to 97, and accordingly lower our target price."
For an analyst ratings summary and ratings history on Sony Corp. click here. For more ratings news on Sony Corp. click here.
Shares of Sony Corp. closed at $11.24 yesterday.
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