Citi analyst Mitsunobu Tsuruo downgraded SoftBank Group to Neutral from Buy with a price target of 7,400 yen, down from 8,000 yen. The analyst cites the buyback hiatus and "uncertain outlook" for capital markets as policy rates continue to rise for the downgrade. He also highlights the "diminished dialog with investors" now that President Son will no longer appear at SoftBank’s results briefings.
Published first on TheFly
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