Jefferies analyst Atul Goyal upgraded Sony to Buy from Hold and raised his price target for the shares to $58 from $50.70. The analyst just a few weeks ago on March 20 downgraded the shares to Hold from Buy. Pressure is mounting on Sony to exit its loss-making Smartphone business, Goyal tells investors in a research note. After removing the business from his sum-of-the-parts analysis, the analyst sees 20% upside in the stock. Further, Goyal thinks downside in Sony shares is limited with the presence of activists. The stock in early trading is up 18c to $47.17.