Reposting from March 13th: (note average analyst target is 8,000 yen, 10% above current PPS)
Canon (CAJ) was a rated by a number of Japanese and foreign investment banks Monday. All of them maintained their prior ratings and target share prices; although you�ll see that their targets are all over the map and the weak yen (although good for Canon�s exports) is keeping downward pressure on Canon ADRs.
The most ambitious target is by Deutsche Bank Securities, which maintains its buy rating with a target of 9,400 yen (this was increased from 8,200 on March 3rd).
The low-end outlier is Credit Suisse, which is maintaining its neutral rating with a target of 7,000 yen.
Canon�s ordinary shares (Tokyo: 7751) closed up 0.55% at 7,270 yen Monday in Tokyo. With the current exchange rate at Y119/US$1, a target of 9,400 is equal to US$79.00, a target of 7,000 is equal to $58.82, and its current share price of 7,270 equals $61.09. Canon ADRs are trading down 0.24% at $61.26 this morning.
Analyst ratings [March 13, 2006]
� Deutsche Bank Securities: Maintain �buy� with target of 9,400 yen � Nikko-Citi: Maintain �1″ (highest rating) with target of 8,400 yen � Mizuho Securities: Maintain �1″ with target of 8,000 yen � UBS: Maintain �1″ with target of 8,000 yen � Morgan Stanley: Maintain �overweight� with target of 7,900 yen � Credit Suisse: Maintain �neutral� with target of 7,000 yen � Goldman Sachs: Maintain �outperform� � Mitsubishi UFJ: Maintain �3″ (neutral)