UPDATE: Barclays Upgrades Nissan Motor to Overweight on Attractive Risk/Return
Barclays raised its rating on Nissan Motor (OTC: NSANY) from Equal-weight to Overweight.
Barclays commented, "We believe near-term negatives have ended because 1) Nissan already announced substantial downward revisions of FY3/13 guidance on 6 November; 2) stock market expectations to the company are already low, with the current share price equating to a P/E of 6.5x and P/B of 0.8x based on our FY3/14 estimates; and 3) dealer customer traffic has recently recovered to -20% YoY in China, a source of earnings uncertainty from FY3/14."
Nissan Motor closed at $17.31 on Wednesday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.