NITTO DENKO COR/ADR (OTCMKTS:NDEKY) Stock Rating Upgraded by Zacks Investment Research

NITTO DENKO COR/ADR (OTCMKTS:NDEKY) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $27.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 17.49% from the company’s previous close.

According to Zacks, “Nitto Denko Corporation is a provider of electrical insulating materials such as double-coated tapes, sealing materials, masking tapes, surface protection materials and non-skid tapes in diverse segments of industry. Its products are designed to assure safety in offices and buildings, precision machinery, machinery & equipment used in production process, and actual work sites. The Company’s technologies and products include reinforcing, vibration-damping and sealing materials. It supplies a whole variety of adhesive tapes in medical and athletic areas. Nitto Denko Group has an extensive lineup of electronics-related products such as optical films, flexible printed circuits, thin-film metal circuit boards and semiconductor encapsulating resins which are applied to various devices including wide-screen LCD TVs, personal computers, cell phones, handheld game consoles, portable audio players, hard disk drives and so on. Nitto Denko Corporation is headquartered in Osaka, Japan. “

Separately, Jefferies Financial Group lowered NITTO DENKO COR/ADR from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $27.00.

Shares of NITTO DENKO COR/ADR stock opened at $22.98 on Wednesday. The firm has a market cap of $7.26 billion, a P/E ratio of 12.03 and a beta of 1.47. NITTO DENKO COR/ADR has a 12 month low of $21.38 and a 12 month high of $39.37. The stock’s fifty day moving average price is $23.77 and its 200-day moving average price is $25.03.

About NITTO DENKO COR/ADR

Nitto Denko Corporation primarily engages in the adhesive tapes business in Japan and internationally. It provides double sided tapes, surface protective films, sealing materials/NVH related products, masking tapes, membranes, FPD/touch panel related products, gasket materials, semiconductor manufacturing process products, flexible printed circuit boards, porous films/breathable materials, and packaging tapes.

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