BNP Paribas Downgrades Canon to Hold; Sees Disappointing SLR Holiday Sales

|By:, SA News Editor

BNP Paribas downgrades Canon (CAJ) from Buy to Hold, moving its price target from ¥3,700 down to ¥3,500.

Analyst Kunihiko Kanno commented that SLR camera sales will probably disappoint this holiday season based on extrapolation of recent sales figures, which have also been below views.

Shipment growth should be just 1% in H1 2014, moving to 7% in the second half of the year.