Nikon Corp. (OTCMKTS:NINOY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Nikon’s growth blueprint is based on four initiatives — a merger & acquisition program, research & development program, human resource program and cost-reduction program. Nikon’s recent restructuring initiatives with respect to its business segments will also facilitate collaboration and streamline operations. Also, the company is undertaking a number of initiatives on stabilizing the key financials of its core business areas including Precision Equipment and Imaging Products to fuel growth. However, prolonged softness in the Semiconductor Lithography business as well as poor performance from Imaging Products Business and Precision Equipment Business remain headwinds. Also, high R&D expenditure and investments related to the medical business are escalating the company’s operational costs, thus putting pressure on margins. Over the past year, Nikon’s shares have underperformed the industry's average.”
Separately, ValuEngine downgraded Nikon Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 4th.
Nikon Corp. Company Profile
NIKON CORPORATION is mainly engaged in the manufacture and sale of image and video equipment. The Company operates in three business segments. The Precision Equipment segment offers semiconductor exposure apparatus and flat panel display (FPD) exposure apparatus products and services. The Video segment provides video related and its peripheral area products and services, such as interchangeable lens type digital cameras, compact digital cameras and interchangeable lenses.
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