Nidec Upgraded to Conviction-Buy at Goldman Sachs Group Inc. (NJ)
Nidec (NYSE:NJ) was upgraded by analysts at Goldman Sachs Group Inc. from a “buy” rating to a “conviction-buy” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.
Nidec (NYSE:NJ) traded down 0.38% on Monday, hitting $20.99. The stock had a trading volume of 70,415 shares. Nidec has a 1-year low of $13.40 and a 1-year high of $22.00. The stock’s 50-day moving average is $19.98 and its 200-day moving average is $17.65. The company has a market cap of $11.266 billion and a price-to-earnings ratio of 119.04.
Nidec (NYSE:NJ) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.00 earnings per share for the quarter. Analysts expect that Nidec will post $0.09 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet upgraded shares of Nidec (NYSE:NJ) to a “buy” rating in a research note to investors on Friday, July 26th. Analysts at Zacks upgraded shares of Nidec (NYSE:NJ) from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, July 8th. They now have a $19.00 price target on the stock.
Nidec Corporation (NYSE:NJ) is a global manufacturer of electric motors, and related components and equipment.
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