Loading...
Loading...
In a report published Thursday, Jefferies analyst Takaki Nakanishi initiated a Buy rating on
Honda MotorHMC and initiated a price target of $47.32.
In the report, Jefferies says "Key arguments in our Buy rating are: (1) We expect quarterly earnings to turn up from 3Q, and restored market confidence in Honda's growth strategy should be a powerful catalyst for share price recovery. (2) We forecast 3-year CAGR of 13% in FY3/15–FY3/17, well above the 7% sector average. (3) Honda will start to recover upfront investment, and its capacity for dividend growth will increase. There are plenty of other catalysts, including solid quarterly earnings and open days at the new Yorii Plant."
Honda Motor closed on Wednesday at $41.19.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in