Is this U.S.-China selloff a buy? A top Wall Street voice weighs in
Investing.com - Morgan Stanley has upgraded Sanrio Co Ltd (TYO:8136) stock rating from Equalweight to Overweight, while raising its price target to JPY8,600.00 from JPY7,900.00.
The upgrade is primarily driven by two key factors: expected tailwinds from the global expansion of Japanese intellectual property (IP) and the recent correction in Sanrio’s share price.
Morgan Stanley forecasts growth in Sanrio’s business worldwide, with China and the United States leading this expansion, prompting upward revisions to the firm’s earnings forecasts for the company.
The research firm views the recent share price correction as unrelated to Sanrio’s fundamentals, attributing it instead to a broader technology shift across equity markets, the September 29 ex-dividend date for dividends and shareholder benefits, and the decline in Pop Mart’s share price.
Morgan Stanley considers the current price correction a favorable buying opportunity for investors interested in the owner of the Hello Kitty brand.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.