On a micro basis SONY's price movement is a combination of China sniffing around the Japanese market, strong US sales results, a Dubai investment firm buying 5%+ of Sony shares.
To me that was the background buzz to the statement that this firm believes the PS3 is near the end to its 'negative factors'
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On a micro basis SONY's price movement is a combination of China sniffing around the Japanese market, strong US sales results, a Dubai investment firm buying 5%+ of Sony shares.
To me that was the background buzz to the statement that this firm believes the PS3 is near the end to its 'negative factors'
On their site you just get a sound bite and need to have password access to get the full note:
We are increasing our earnings forecasts for Sony and raising our recommendation from 3 to 2. The shares are trading at a PER of 17.5x our revised FY3/08 and FY3/09 EPS forecasts, the lowest level since 1997, and we believe there is now a clear sense of undervaluation in the share price.