Honda Motor Co. Rating Increased to Outperform at Zacks (HMC)

Honda Motor Co. (NYSE: HMC) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday. The firm currently has a $38.00 price target on the stock.

Zacks’ analyst wrote, “Honda expects to benefits from its global network and business expansion in Asia.
The automaker is well positioned to take advantage of stricter environment regulations given its long-term focus on hybrid vehicles. Given these factors and favorable model mix and effective cost reduction measures, the company anticipates a revival in sales and profits for fiscal 2013. Although it missed the Zacks Consensus Estimate by $0.14 per share, the company posted a steep 61% increase in profits to 71.6 billion ($871 million) in the fourth quarter of the fiscal 2012. As such, we have upgraded the recommendation on the shares of the company to Outperform from Neutral and set a target price of $38.00.”

Separately, analysts at Credit Suisse (NYSE: CS) upgraded shares of Honda Motor Co. from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, May 7th.

Honda Motor Co. traded down 0.87% on Monday, hitting $31.92. Honda Motor Co. has a 1-year low of $27.52 and a 1-year high of $41.23. The company has a market cap of $57.529 billion and a price-to-earnings ratio of 21.86.

Honda Motor Co, Ltd. (Honda) develops, produces and manufactures a variety of motor products, ranging from small general-purpose engines and scooters to specialty sports cars.

Source;
http://zolmax.com/honda-motor-co-rating-increased-to-outperform-at-zacks-hmc/2910189/