Canon, Inc. (CAJ)
- On 1:00 am EST, Friday November 6, 2009
We believe the sharp appreciation of the yen is eroding Canon's (NYSE: CAJ - News) revenue and profits. The company expects to improve profitability through product launches and cost-cutting efforts, and Canon has maintained its revenue and earnings forecast even though the third quarter was below expectations.
We expect revenue in 2009 to be hurt by weak consumer spending and the poor global economy, and believe the company will struggle to meet expectations in fiscal 2010. We maintain our estimates for the full year 2009. 2011 estimates have been added.
We also maintain our Underperform recommendation on CAJ shares, but increased our six-month target price to $30.00.
CANON INC ADR (CAJ): Free Stock Analysis Report
|
Related Headlines
- Canon U.S.A. Celebrates an Award-Winning Year for Customer Service and Product Quality - Business Wire
- Urner Barry Printing & Mailing Adds the Canon imagePRESS C6000 Digital Color Press to Their Fleet of Commercial Print Technology - Business Wire
- Direct Mail Services Adds the Canon ImagePRESS C7000VP Digital Color Press to Their Fleet of Commercial Print Technology - Business Wire
- Canon U.S.A. Introduces New imageFORMULA DR-2020U Universal Scanner for Business Environments of All Sizes - Business Wire
- Financial Shares Lead Declines - at The Wall Street Journal Online
Related Blog Headlines
- The Complete List of Japanese ADR Stocks - at Seeking Alpha
- HP Eyes the SMB Market - Zacks.com
- Zacks Bull and Bear of the Day Highlights: Acorda Therapeutics, Canon, Big Lots, Wal-Mart and Nordstrom - Zacks.com
- Canon, Inc. (CAJ) - Zacks.com
- Zacks #1 Rank Additions for Thursday - Zacks.com
Sponsored Links
-
Trade Stocks? Try Currency Trading
Trade in a highly trending market 24-hrs a day, 5.5 days a week. GFT. -
Earn From 1.90% to 2.20% Apply Online
With GE Capital Corporation. Not An Offer Of Securities For Sale.
-
Buy Stocks for $4
No account or investment minimums. No inactivity fees. Start Today. -
Super Cheap Car Insurance
Get Discount Car Insurance Quotes Online – Rates from $15 / Month.
More From Provider
Tech Ticker Recent Posts
- Housing Bottom? "Not Even Close," Barry Ritholtz Says - Aaron Task
- A Bad Economy Could Spell Good News on Wall Street for Years to Come - Peter Gorenstein
- The FDIC Is $8.2 Billion in the Hole - John Carney
Add Alert © 2009 Zacks.com. All rights reserved.