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Sony (SNE) Stock Down, Jefferies Remains Bullish

NEW YORK (TheStreet) -- Shares of Sony (SNE) are declining 2.57% to $32.55 this morning, but Jefferies analysts remain bullish on the stock, noting that Sony's better-than-expected fiscal 2017 first quarter results make for many upside risks.

The firm raised its price target to ¥5,150 from ¥5,100 and maintained its "buy" rating on the stock, citing good management, superior earnings growth and inexpensive price, among other things.

"This business will also turn-around to become a profit driver from 2H onwards," Jefferies continued in an analyst note. "Quarters and years ahead look very promising."

Last week, Sony posted a first quarter net profit of ¥21.2 billion, despite analysts...