Zacks Investment Research upgraded shares of Fujifilm Holdings Corporation (FUJIY) from UNDERPERFORM to NEUTRAL on June 27, 2012, with a target price of $19.00.
We are upgrading our rating on Fuji from Underperform to Neutral. We are optimistic on the company's continued technological innovation, anticipated to keep up with the current growing digital needs. Moreover, the company's strategic diversification, promotional efforts and margin management are expected to ensure significant value for shareholders. Fujifilm's proactive investment in priority business fields looks sustainable and profitable for the corporation in the quarters ahead. However, hi tech digitization among peers, competitive pricing pressure and sluggish global demand raise concern. In addition, the plight of yen depreciation and rising raw material costs continue to affect stock performance. With the above arguments, we prefer to view Fujifilm from the sidelines.
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