
Sony (NYSE:SONY) Upgraded to "Buy" at Nomura

Nomura upgraded Sony to a "buy" rating, joining other analysts like Zacks Research and Wolfe Research who have also raised their ratings. Sony's stock has a consensus "Buy" rating with an average target price of $33.00. Despite the upgrades, Sony's stock traded down 0.6% to $28.49. Hedge funds and institutional investors have been actively buying Sony shares, with Fisher Asset Management increasing its stake by 2.7%. Sony designs and sells electronic equipment globally.
Sony (NYSE:SONY - Get Free Report) was upgraded by stock analysts at Nomura from a "neutral" rating to a "buy" rating in a note issued to investors on Wednesday.
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A number of other analysts have also commented on the stock. Zacks Research upgraded shares of Sony from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 16th. Wolfe Research upgraded shares of Sony from a "peer perform" rating to an "outperform" rating in a research report on Wednesday, November 5th. Weiss Ratings restated a "buy (b)" rating on shares of Sony in a research report on Wednesday, October 8th. Finally, Cfra Research upgraded Sony to a "moderate buy" rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $33.00.
Check Out Our Latest Stock Analysis on Sony
Sony Stock Down 0.6%
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Shares of NYSE SONY traded down $0.19 during mid-day trading on Wednesday, hitting $28.49. 3,121,967 shares of the stock traded hands, compared to its average volume of 4,852,175. The stock has a fifty day moving average price of $28.97 and a 200-day moving average price of $26.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.09. The company has a market cap of $172.27 billion, a price-to-earnings ratio of 22.63 and a beta of 0.99. Sony has a 52 week low of $18.97 and a 52 week high of $30.34.
Hedge Funds Weigh In On Sony
Large investors have recently bought and sold shares of the business. Fisher Asset Management LLC lifted its position in shares of Sony by 2.7% during the third quarter. Fisher Asset Management LLC now owns 104,644,526 shares of the company's stock worth $3,128,924,000 after purchasing an additional 2,766,460 shares during the last quarter. Mondrian Investment Partners LTD purchased a new stake in Sony in the 3rd quarter valued at about $277,631,000. Northern Trust Corp boosted its position in Sony by 3.4% in the 1st quarter. Northern Trust Corp now owns 7,845,521 shares of the company's stock valued at $199,198,000 after buying an additional 257,838 shares during the period. Capital International Investors increased its position in shares of Sony by 245.0% during the third quarter. Capital International Investors now owns 6,049,618 shares of the company's stock worth $176,044,000 after acquiring an additional 4,296,028 shares during the period. Finally, Capital World Investors raised its stake in shares of Sony by 0.4% during the third quarter. Capital World Investors now owns 5,001,748 shares of the company's stock valued at $144,021,000 after acquiring an additional 20,960 shares in the last quarter. Hedge funds and other institutional investors own 14.05% of the company's stock.
About Sony
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Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.
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