10-29-2020, 02:02 PM
- Shares of Sony in Japan were up 6.69% on Thursday afternoon in Tokyo.
- On Wednesday, Sony raised its forecast for its operating income by 13% to 700 billion yen (approx. $6.7 billion).
- Jefferies Asia’s Atul Goyal told CNBC he’s “extremely bullish” on Sony. The firm owns the stock and currently has a buy rating on Sony, with a price target of 13,230 yen per share — more than 50% higher than where the price currently sits.
SINGAPORE — Shares of Sony surged in Tokyo on Thursday, a day after the Japanese electronics giant raised its annual profit forecast.
Sony shares in Japan were up 6.3% in Thursday afternoon trade even though Japan’s broader index, the Nikkei 225, was lower by around 0.3%.
On Wednesday, Sony raised its forecast for its annual operating income by 13% to 700 billion yen (approx. $6.7 billion). It came as the firm announced a operating profit of about 317.8 billion yen (around $3.04 billion) for the three months ended Sept. 30.
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