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Fly News Breaks for July 2, 2018
CAJ
Jul 2, 2018 | 05:03 EDT
Goldman Sachs analyst Satoru Ogawa downgraded Canon to Sell with a decreased price target of 3,200 yen. The analyst recommends a cautious stance on the Japanese precision equipment sector due to "high valuations and flagging earnings momentum." Ogawa sees downside potential in Canon on the belief that its earnings momentum will slow. The analyst lowered Canon's estimates to reflect a slowdown in OLED investment, tougher competition in the digital still camera and inkjet printer businesses, and higher costs.
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