UBS has upgraded Honda Motor Co Ltd's stock rating from Sell to Neutral, adjusting the price target from JPY1,400 to JPY1,300 following a 30% decline in share price since March 2024. The firm noted that the market capitalization of JPY6 trillion indicates limited downside risk, despite a 10% reduction in EPS estimates for the fiscal year ending March 2025 due to rising product-quality costs and BEV losses. Future earnings projections for subsequent years have also been lowered by 4-5%, reflecting anticipated increased incentives and ongoing BEV challenges.
UBS has upgraded Honda Motor Co Ltd's stock rating from Sell to Neutral, adjusting the price target from JPY1,400 to JPY1,300 following a 30% decline in share price since March 2024. The firm noted that the market capitalization of JPY6 trillion indicates limited downside risk, despite a 10% reduction in EPS estimates for the fiscal year ending March 2025 due to increased product-quality costs and BEV losses. Future earnings projections for subsequent years have also been lowered by 4-5%, reflecting anticipated higher incentives and ongoing BEV challenges.
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