Navitas stock soars as company advances 800V tech for NVIDIA AI platforms
Investing.com - JPMorgan has downgraded Nidec Corporation (6594:JP) (OTC:NNDNF) from Neutral to Underweight and significantly reduced its price target to JPY2,400.00 from JPY3,900.00.
The downgrade comes despite JPMorgan’s expectation of steady earnings growth in several of Nidec’s business segments, including ACIM, MOEN, and HDD spindle motors.
JPMorgan cited concerns regarding the company’s financial reporting, noting that Nidec’s auditor issued a disclaimer of opinion with respect to the company’s FY2024 financial statements.
The investment bank also mentioned that an investigation by a third-party committee into Nidec is currently ongoing, further complicating the investment case.
The rating change was based on the relative ranking of total return against target price for stocks covered by JPMorgan, with the firm stating it is difficult to recommend Nidec under the current circumstances.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.