Oppenheimer Starts Sony Corp. (SNE) at Outperform
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Oppenheimer analyst Andrew Uerkwitz initiates coverage on Sony Corp. (NYSE: SNE) with an Outperform rating and a price target of $70.00.
The analyst commented, "We are initiating coverage of Sony Corporation (SNE) with an Outperform rating and a 12-18-month price target of $70. Sony has helped to define the media entertainment experience for generations of consumers since its founding over 70 years ago. It still has a leading role in shaping the end-to-end digital experience in video games, music, movies/TV and image capturing. Despite well-known challenges in consumer electronics, SNE executed a respectable turnaround that produced a dominating gaming platform and the world’s largest music catalog. Its semiconductor business continues to lead high-end CMOS image sensor market. Its Pictures business stabilized with notable box office successes and more rational cost controls. We expect steady improvement in revenue growth, margins, and cash flows as Sony progresses through its digital transformation."
Shares of Sony Corp. closed at $51.68 yesterday.
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