Jefferies cuts Yaskawa Electric stock rating citing order slowdown

Published 06/06/2025, 09:46
Jefferies cuts Yaskawa Electric stock rating citing order slowdown

On Friday, Jefferies analysts downgraded Yaskawa Electric stock, listed as 6506:JP on the Tokyo Stock Exchange and (OTC:YASKY), from a Hold to an Underperform rating. The decision was accompanied by a reduction in the price target to ¥2,500 from ¥3,000. The downgrade comes as the stock has already declined 42% over the past year, with a P/E ratio of 14.8x.

The analysts pointed to signs of a slowdown in new orders for servomotors and robots as a key factor in their decision. They noted that this slowdown suggests further shortfalls compared to both the consensus and their previous forecast for the fiscal year ending February 2026. This concern appears justified, as InvestingPro data shows revenue declined 6.6% in the last twelve months.

Additionally, the analysts expressed concerns over emerging risks to the global supply chain. The escalation of the China-US tariff dispute was highlighted as a significant factor, making their forecast of a profit decline for the fiscal year ending February 2027 appear more realistic than it did two months ago.

The revised price target reflects over 20% downside to the current share price, according to the analysts. This potential decline prompted the rating cut from Hold to Underperform.

In other recent news, Morgan Stanley (NYSE:MS) upgraded Yaskawa Electric’s stock rating from Equalweight to Overweight, raising the price target to JPY5,000.00 from JPY4,700.00. This upgrade follows a period where Yaskawa faced challenges, including a two-year low in stock prices due to concerns related to China and disappointing earnings. Morgan Stanley anticipates a gradual recovery in Yaskawa’s order volumes through the fiscal year ending February 2026, with improvements expected in the motion control and robotics segments. The firm noted that Yaskawa’s earnings have reached a low point after three consecutive quarters and are now positioned for an upturn. Analysts believe there is no further downside risk to the company’s earnings, with production on the rise and recovering orders. Additionally, losses related to inventory valuation are diminishing, suggesting a bottoming out of the earnings cycle. Morgan Stanley’s analysis indicates that market interest and expectations for Yaskawa Electric remain subdued, but the attractive risk-reward profile has influenced their decision to upgrade the stock rating. The firm’s outlook reflects confidence in Yaskawa’s potential for growth and recovery in the near future.

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