Nissan a Hold Despite Losses – Analyst Blog
Source: http://www.zacks.com/stock/news/18624/Nissan+a+Hold+Despite+Losses+-+Analyst+BlogPosted on Friday, March 27th, 2009 | In Stocks to Watch
Nissan Motor Company (NSANY) manufactures and sells about 3.5 million cars and commercial vehicles annually in more than 190 countries. The company has 2 reporting segments: Automobile (92% of revenue), which encompasses passenger cars, trucks, buses, forklifts and manufacturing parts for overseas production; and Sales Financing (8% of revenue), which includes credit and leasing services.
Nissan has undertaken a number of recovery actions to fight the worsening industry conditions. It is now focusing on quality leadership and zero-emission vehicles and abandoned the rest of the plans under its previously announced GT 2012 program.
The company has projected a loss of $2.58 billion for fiscal 2008 with a 23% y-o-y decline in revenues. All these lead us to rate the stock a Hold with a target price of $6.50.
Read the full analyst report on “NSANY”
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