Below is a list of analyst ratings released Wednesday by Japanese securities firms. I have only listed those companies that have ADRs. First, let me mention that Toyota (ADR: TM) set another all-time high close at Y6,320 yesterday in Japan, and Morgan Stanley (Japan) raised its target share price from Y6,200 to Y7,150 (which when convereted into dollars at Y118/US$1 equals $60.59 and when doubled because 1 Toyota ADR equals 2 ordinary shares, the target share price is approx. $121). Morgan is maintaining its "overweight" rating on Toyota's shares.
• Hitachi (HIT): Shinko Securities maintains "2-" rating (2nd lowest, equivalent to underweight)
• Kirin Brewery (KNBWY): Nikko-Citi maintains "1L" rating (2nd highest, equivalent to outperform) with target share price of 1,480 yen
• Mitsubishi UFJ Fin. Grp. (MTU): Goldman Sachs maintains "in-line" rating
• Sanyo Electric (SANYY): Mizuho Securities maintains "4" rating (2nd lowest, equivalent to underweight); Merrill Lynch maintains "sell" rating
• NTT (NTT): JP Morgan maintains "underweight" rating
• TDK (TDK): Goldman Sachs maintains "underperform" rating