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Fly News Breaks for July 24, 2019
TOSBF, TOSYY
Jul 24, 2019 | 07:53 EDT
Jefferies analyst Atul Goyal started Toshiba with an Underperform rating with a price target of 2,670 yen. Core issues inherent in the company's product portfolio have not been addressed by the "Toshiba Next Plan," even after asset sales, Goyal tells investors in a research note. He believes Toshiba's profitable businesses like Nuclear and Infrastructure are being offset by a "raft of low/negative margin businesses." The analyst feels the company's restructuring is "not deep enough."
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