Nikon Corp (NASDAQ:NINOY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
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 is focusing on expansion in two new segments, namely Medical and Instruments business. Also, Nikon is undertaking a number of initiatives on stabilizing the key financials of its core business areas – including Precision Equipment and Imaging Products – to stoke growth. However, effects of delayed budget execution by the government, adverse product mix in Imaging Products and poor performance of the Semiconductor Lithography business pose as headwinds for Nikon. This apart, high R&D expenditure, restructuring costs 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.”
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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