Goldman Sachs analyst Yuji Fujimori this morning downgraded Sony (SNE) to Neutral from Buy on “a lack of near term positive catalysts” for the consumer electronics giant. Goldman also trimmed its target on the stock to 3,700 ($35) yen from 4,600. “As Sony prepares its Christmas product lineup,” Fujimori writes, “we see few signs of an upturn in fundamentals.”
He trimmed his revenue forecast for the March 2009 fiscal year to 8.95 trillion yen, form 9.15 trillion; for FY 2010 he goes to 9.3 trillion, from $9.6 trillion. His profit forecast for fiscal 2009 drops to 385 billion yen, from 470 billion. In U.S. trading, Sony this afternoon is down $1, or 3%, at $32.01.
p.s. Goldman Sachs Group, Inc. stock is down $31 today. 😛
