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Asahi Glass listed among Japan Hot Stocks

Post Time:Feb 27,2009Classify:Company NewsView:386

The benchmark Nikkei average rose 1.3 percent and the broader TOPIX added 1.5 percent as of 0440 GMT on Friday. The stocks such as Asahi Glass, Panasonic, Kurita Water, were on the move
 
ASAHI GLASS CO, PEERS DROP AFTER CS DOWNGRADE

Glass and ceramics makers slid after Credit Suisse (nyse: CS - news - people ) downgraded its rating on Asahi Glass to 'underperform' from 'neutral' and cut its target price to 390 yen from 430 yen, while lowering the rating on the sector to 'market weight' from 'overweight'.

'We believe AGC's (Asahi Glass) shares look overvalued at the current price, given the serious deterioration in BPS,' Credit Suisse analyst Shinya Yamada wrote in a note to clients.

Asahi Glass fell 5.1 percent to 432 yen, while Nippon Sheet Glass lost 4.8 percent to 198 yen.
 
The glass and ceramics subindex shed 2.6 percent to become the biggest loser among the subindices.

Source: ReutersAuthor: shangyi

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