Morgan Stanley's new target share price for Kubota is 1,340 yen versus a prior target of 1,220 yen. Morgan Stanley is maintaining its "overweight" rating. It cited its unchanged outlook for stability in internal combustion machinery in North America and views the recent market selloff as a golden buying opportunity.
Kubota's ordinary shares (Tokyo: 6326) closed Tuesday up 0.75% at 1,076 yen (US$9.58). The 1,340 yen price target at current forex rates equals $11.93. Notice that Kubota's ADRs are listed in a 1:5 ratio to its ordinary shares. Thus, its Tuesday close equals $47.90 and the 1,340 yen target equals $59.65. Kubota's ADRs have traded in a range of $27.31 to $60.60 in the past 52-weeks.
KUB 1-yr chart: