Seeking Alpha
Research analyst, long/short equity, ETF investing, foreign companies
Profile| Send Message|
( followers)  
Nissan Motors (OTCPK:NSANY) 4% increase in net income this past quarter ended June 30th should be viewed positively because it could have been a lot worse. Nissan was helped by a weak yen and the fact that in the same quarter last year a one-time expense hurt earnings. CEO Carlos Ghosn once again warned the first half would be a challenge and to anticipate better times from the second half. Nissan is standing by its full-year financial forecast which is a sign of confidence that also supports Ghosn's promise to deliver.

Ordinary shares of Nissan (Tokyo: 7201) gained 2.43% on a strong overall day for Japanese stocks. Its 1,180 yen close is equal to $20.26 for its ADRs when adjusting for the current exchange rate and its ADR listing ratio.

I continue to believe that Nissan could be a buy if it trades lower up to its 2H launch of new models. I don't think a no-deal with GM will have much effect on Nissan's shares. In recent trading both its ordinary shares and ADRs are trading at/near 52-week lows.

Click here to access Nissan's investor relations page in English.

Click here for earnings coverage by Yahoo-AP.

Nissan Motors (OTCPK:NSANY) 1-year chart:

Source: Nissan Salvages Q1, All Eyes on 2H