NEW YORK () -- Shares of Sony () 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...
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