UPDATE: Morgan Stanley Upgrades Sony Corp. (6758:JP) (SNE) to Overweight
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Morgan Stanley analyst Masahiro Ono upgraded Sony Corp. (6758:JP) (NYSE: SNE) from Equalweight to Overweight with a price target of JPY16,000.00 (from JPY9,500.00).
The analyst comments "We previously stayed EW – despite a favorable view of Sony’s solid management capability and future value of content IP – noting that growth drivers were limited to games, music,and semiconductors,and also reflecting the game console cycle and our view that the CIS (CMOS Image Sensor)user market in semiconductors was mainly limited to smartphones. With the stock up more than we expected,and Sony’s management briefing and our research of related markets now indicate that Pictures has a key role in its growth strategy ahead."
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