12:40 AM EDT, 05/10/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target price to USD8 (from USD8.50), which reflects a FY 25 (Mar.) P/B of 0.39x. The target valuation is the lowest in five years due to the earnings risks from deteriorating company and industry fundamentals. We maintain our FY 25 EPS estimate of JPY222 and initiate a FY 26 EPS forecast of JPY240. Nissan Motor (NSM) posted FY 24 EPS of JPY221 (vs. an EPS of JPY113 in FY 23), within our expectation. Profits were supported by revenue recovery (+20% to JPY12.7 trillion on higher unit sales volume). We expect full-year unit sales to be largely flat on assuming smaller market share in FY 25 due to outdated model designs, stagnant technological development, and contracting global industry demand, in line with NSM's forecast. Our profitability outlook is positive, but we stay cautious on heavy discounting trends due to heightened competition and rising research & development cost as a percentage of revenue.