Zacks Investment Research Upgrades NITTO DENKO CORP ADR(CNV INTO 0.5 (NDEKY) to “Buy”

NITTO DENKO CORP ADR(CNV INTO 0.5 (NASDAQ:NDEKY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm currently has a $37.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.21% 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. “

Shares of NITTO DENKO CORP AD (NASDAQ:NDEKY) opened at 32.975 on Friday. The firm has a market capitalization of $10.70 billion and a price-to-earnings ratio of 16.105. NITTO DENKO CORP AD has a 52 week low of $23.21 and a 52 week high of $37.33. The stock has a 50 day moving average of $32.82 and a 200-day moving average of $31.63.

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