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.
Asian stocks mostly rose ahead of the Federal Reserve's final rate decision of the year, with Japan's Nikkei 225 slipping 0.2% despite a 3.8% increase in exports. Trading in Nissan shares was suspended after a 22% surge amid merger talks with Honda, while the Hang Seng and Shanghai Composite gained 0.6% and 0.7%, respectively. The S&P 500 is on track for a nearly 27% annual gain, as strong retail sales data raises questions about the need for further rate cuts.
World stocks showed mixed performance ahead of the Federal Reserve's rate decision, with European markets opening higher. Nissan shares surged 23.7% amid collaboration talks with Honda, while Japan's Nikkei 225 fell 0.7% following export data. The S&P 500 is poised for a strong year, up nearly 27%, as the Fed is expected to announce a third rate cut amid persistent inflation concerns.
World stocks are mixed as markets await the Federal Reserve's rate decision. European indices opened higher, while Japan's Nikkei 225 fell 0.7%. Nissan shares surged 23.7% amid collaboration talks with Honda, while U.S. retail sales exceeded expectations, hinting at a resilient economy.
Asian stocks mostly rose ahead of the Federal Reserve's rate decision, with Japan's Nikkei 225 slipping 0.2% despite a 3.8% increase in exports. Nissan's shares surged 22% amid merger talks with Honda, while the Hang Seng and Shanghai Composite gained 0.6% and 0.7%, respectively. The Fed is expected to announce a rate cut, but strong economic data may lead to a pause in January.
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