Goldman Sachs downgraded NSK Ltd. to Neutral from Buy with an 830 yen price target. The firm lowered its NSK earnings estimates due to the stagnation of the industrial machinery business and the precision machinery business, the analyst tells investors. Given the stagnation of the company’s earnings and valuation, the firm also lowered its multiple discount to 30%, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
