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Canon Stock Rating Downgraded to Underperform (CAJ)
by: Shayan Afkhami
Canon (NYSE: CAJ) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Monday. They currently have a $33.90 price target on the stock.Several other analysts have also recently commented on the stock. Analysts at Credit Suisse upgraded shares of Canon from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, February 19th. Separately, analysts at TheStreet downgraded shares of Canon from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, January 30th. Finally, analysts at JPMorgan Chase upgraded shares of Canon from a “neutral” rating to an “overweight” rating in a research note to investors on Tuesday, January 22nd.
Eleven analysts have rated the stock with a buy rating, one has issued an overweight rating, seven have given a hold rating, and one has assigned a sell rating to the company’s stock. The stock currently has an average rating of “overweight” and a consensus target price of $41.91.
Shares of Canon traded up 3.26% during mid-day trading on Monday, hitting $36.8959. Canon has a 52 week low of $29.81 and a 52 week high of $48.48. The stock’s 50-day moving average is currently $36.03. The company has a market cap of $42.533 billion and a P/E ratio of 14.70.
Canon Inc. (Canon), is a manufacturer of network digital multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and steppers.
To view Zacks’ full report, visit http://www.zacks.com
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