DJ MARKET TALK: Sony Up After Morgan Stanley's Bullish Call

10/12/06 - Dow Jones Newswires

0046 GMT [Dow Jones] STOCK CALL: Sony (6758.TO) adds to recent gains after Morgan Stanley hikes rating to Overweight from Equal-weight, saying earnings recovery not priced into stock, which has been hit by PlayStation 3 price tag cut, PC battery recall; Shares up 3.5% at Y4,750, but could rise to Y5,900, says analyst Masahiro Ono; electronics giant likely to post 2Q group operating loss of Y32 billion, but outlook brighter; "The price premium earned by the Sony brand has not fallen in the past year. If anything, BRAVIA LCD TVs seem to be restoring it. With flat-screen TV penetration spreading in 2008, we still expect a strong earnings recovery." (AMS)

 
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(END) Dow Jones Newswires

October 12, 2006 20:46 ET (00:46 GMT)

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