Mixed Signals for Yamaha Motor Co.: Hold Rating Amid Rising Export Value and Declining Unit Prices

Analyst Lisa Jiang of Morgan Stanley maintained a Hold rating on Yamaha Motor Co, with a price target of Yen1,100.00.

Lisa Jiang’s rating is based on the current trade data and market trends for Yamaha Motor Co. The export value of outboard motors from Shimizu Port has shown a year-over-year increase, indicating a positive trend in demand. However, the average unit prices have been declining, which suggests a shift in the product mix towards smaller, less expensive models.
While the increase in export value is promising, the decline in unit prices and the slower recovery of larger models, which are crucial for Yamaha’s revenue, present challenges. These mixed signals contribute to the Hold rating, as the company shows potential but also faces significant hurdles that need to be addressed before a more optimistic outlook can be justified.