UPDATE: Citigroup Upgrades Sony Corporation to Buy on Yen Weakness
On Friday, Citigroup upgraded Sony Corporation (NYSE: SNE) from Neutral to Buy.
Citigroup commented, "Yen weakness is prompting changes to management strategy, and we expect it to improve earnings in consumer electronics. As the weaker yen allows Sony to be more risk-tolerant, we think changes will go beyond OP sensitivity to yen depreciation. … We expect weak H2 earnings, so we see investment opportunities coming after Q3 results."
Sony Corporation closed at $14.41 on Friday.
Latest Ratings for SNE
|Nov 2014||JP Morgan||Upgrades||Neutral||Overweight|
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