Seiko Epson Shares Fall After JPMorgan Cuts Rating, Citing Yen March
08– Seiko Epson Corp., the world’s third-biggest maker of inkjet
printers, fell the most in more than a week after JPMorgan Chase &
Co. lowered its investment rating on the stock to “underweight,”
citing the stronger yen.Seiko Epson fell 3 percent to 2,940 yen as of
9:25 a.m. on the Tokyo Stock Exchange, its biggest drop since March 17.
The benchmark Nikkei 225 Stock Average declined 0.6 percent.JPMorgan
lowered its rating on the company from “neutral,” Tokyo-based analyst
Hisashi Moriyama said in a report yesterday.