From Investing.com: 2024-07-09 12:50:03

Mizuho analysts raise target price for Sony stock to ¥21,100, projecting 45% upside potential following positive company update and 5% share rally in Japan. They predict a solid rebound in operating profit by FY25 and forecast 11% annual growth in operating profit over the next two years, exceeding consensus.

Sony stock has been challenging for investors due to conservative guidance and smartphone market pressure, but Mizuho sees a buying opportunity. Sony’s medium-term plan focuses on profit growth and share repurchases, targeting a 10% or more operating profit CAGR. Mizuho expects record profits in Gaming & Network Services and Imaging & Sensing Solutions.

Mizuho views Sony as under-owned and highlights its potential for profitability expansion in gaming and sensor businesses. With an attractive valuation of 14.5x P/E and 8.8x EV/EBITDA, Mizuho reiterates Sony as a top long idea, confident in its upside potential and commitment to shareholder returns.



Read more at Investing.com: Mizuho sees 45% upside in this popular tech stock By Investing.com