Sunday, October 15, 2006

Sony Shares Increase By 3.7 Percent.

Heads-up, loyal Sony fans! It seems that the company's heading for brighter days, as its stock rose to a whopping 3.7 percent yesterday. Why? We have no idea, but it's good news.

It seems that Sony's rating is now "overweight" than the usual "equal-weight" (according to Morgan Stanley analyst Masahiro Ono's standards), which we think is a good thing. There were several issues that the company faced the last couple of months: there was the PS3 delay, the supposed overheating problem during the TGS, and the usual PS3 bashers. With all the bad publicity, Sony really has "to gain weight" to make up for the 3.6 percent drop they incurred last month.

And gain they did. The 12-month price target was increased from 300 yen to a staggering 5,900 yen (which is around $49). Hmmm... looks like Sony isn't doing as bad as some people think. Hopefully they'll be back on their feet once the PS3 is released.


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