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Investing.com - Jefferies downgraded Nikon Corp (TYO:7731) (OTC:NINOY) from Buy to Hold on Monday, maintaining a price target of JPY1,700.00 following the company’s disappointing quarterly results. The company, a prominent player in the Household Durables industry with a market capitalization of $3.7 billion, has shown strong momentum with a 14.6% return over the past week.
The Japanese camera and precision equipment maker reported an operating loss of ¥1.1 billion for the first quarter of fiscal year 2026, representing a ¥4.0 billion year-over-year decline, according to Jefferies. Despite the quarterly loss, InvestingPro data shows the company maintains a healthy financial position with a current ratio of 1.98 and moderate debt levels.
The downgrade follows Nikon’s August 7 earnings announcement, which revealed setbacks from yen appreciation and profit decline in the company’s imaging business due to a less favorable product mix.
Nikon has lowered its fiscal year 2026 guidance, including reducing its operating profit target to ¥15.0 billion, factoring in a ¥7.5 billion impact from tariffs.
Jefferies maintained its price target of ¥1,700, noting that Nikon’s current share price has reached this target, prompting the rating revision from Buy to Hold.
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