Credit Suisse Neutral on TDK, Raises Target Share Price 4.4% (TDK)

Credit Suisse Japan announced yesterday that it is maintaining a "neutral" rating on TDK Corporation (TDK). Not providing many details publicly, the main reason for the neutral rating seems to be that TDK's share price will be held down by profit-taking. Nonetheless, Credit Suisse did increase its target share price of TDK by 4.44% from 9,000 yen to 9,400 yen. TDK closed Tuesday in Tokyo at 9,190 yen. In intraday afternoon trading Wednesday in Tokyo, TDK was down 1.85% at 9,020 yen. TDK's ADRs closed Tuesday at $78.56. Unless the yen strengthens there doesn't seem to be much upside in the short-term for U.S. investors in TDK. However, TDK is planning to increase its dividend -- read about it here.

TDK 1-yr chart: