Market Overview

UPDATE: JP Morgan Upgrades Canon to Neutral on Positive Trend Shifts

Share:
Related CAJ
Bloomberg: Japanese Companies Aren't Active Enough In Global M&A Deals
Earnings Scheduled For April 26, 2016
Sony Helps Xiaomi Compete In The Mirrorless Camera Market (Seeking Alpha)

JP Morgan raised its rating on Canon (NYSE: CAJ) from Underweight to Neutral.

JP Morgan noted, "Over the past few days three key developments have shifted trends in Canon's favor: management announced a special dividend to commemorate the company's 75th anniversary, yen appreciation appears to have stalled, and the launch date for the EOS6D was pushed up. We believe these developments will support Canon's earnings and valuation. Although longer-term risks remain, including declining print volumes, stiff competition from Samsung Electronics in the MFP market, and erosion of compact camera demand by camera-equipped smartphones, a decline in the yen's value—even if only temporary—should mitigate the negative earnings pressure from these risk factors."

Canon closed at $33.16 on Friday.

Latest Ratings for CAJ

DateFirmActionFromTo
Jul 2016CLSADowngradesBuyUnderperform
Jul 2015Goldman SachsUpgradesSellNeutral
Mar 2015JP MorganUpgradesUnderweightOverweight

View More Analyst Ratings for CAJ
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (CAJ)

View Comments and Join the Discussion!