04-29-2005, 01:45 AM
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#2
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Mr. Mjolnir
Crash is offline
Location: Austin, TX
Now Playing: Re:4 Wii
Posts: 3,218
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Re: Sony profits doubled.
stu, you're the man... 
Quote:
Sony Corp. (SNE ): Downgrades to 1 STAR (strong sell) from 3 STARS (hold)
Sony posted a March-quarter loss of 56 cents per share, vs. a 39-cent loss, wider than our estimate of a 37-cent loss on weaker operating margin in the electronics segment than we expected. Looking ahead, we expect continued price pressure in digital consumer products to continue to squeeze margins in the electronics segment, which we believe will likely outweigh additional restructuring savings of about $680 million expected in fiscal 2006 (ending March). We are slightly decreasing our fiscal 2006 earnings per share estimate to 64 cents. Based on blended discounted-cash-flow and relative valuation, we are lowering our target price by $6 to $33.
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