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UPDATE: Bank of America Downgrades Mitsubishi UFJ Financial to Neutral on Multiple Positive Factors

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In a report published Wednesday, Bank of America analyst Nana Otsuki downgraded the rating on Mitsubishi UFJ Financial Group (NYSE: MTU) from Buy to Neutral, but slightly raised the price target from $6.41 to $6.92.

In the report, Otsuki noted, “Positives are (1) relative strength in the overseas business, (2) strongest capitalization among the Japan's major banks, which could give some capacities for various business developments, (3) good prospects for strengthening its group companies, and (4) generally limited credit risks on the balance sheet. However, negatives are continued NIM decline, risk of acquisition, and lack of catalysts while smaller direct benefits are likely from new government policies.”

Mitsubishi UFJ Financial Group closed on Tuesday at $6.80.

Latest Ratings for MTU

DateFirmActionFromTo
Feb 2016CitigroupDowngradesNeutralSell
May 2013Bank of AmericaDowngradesBuyNeutral
Apr 2013UBSDowngradesNeutralSell

View More Analyst Ratings for MTU
View the Latest Analyst Ratings

 

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Posted-In: Bank of AmericaAnalyst Color Downgrades Analyst Ratings

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