Nippon Television Holdings rises for second straight session after Daiwa upgrades to 'outperform'
Nippon Television Holdings, Inc. <9404> edged higher for a second straight session. On Oct. 1, Daiwa Securities upgraded its rating on the stock to "2 (Outperform)" from "3 (Neutral)." The brokerage cut its price target to 3,300 yen from 4,000 yen. Daiwa noted that a recent price correction and the rising value of cross-shareholdings made the stock look undervalued relative to its asset holdings. While cutting earnings forecasts for the current and next fiscal years, Daiwa expects Nippon Television's performance to remain resilient compared with peers as it maintains high market share amid a sluggish TV advertising market.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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