Macquarie downgraded Kyocera (KYOCF) to Neutral from Outperform with a price target of 2,700 yen, up from 2,400 yen. Following a 72% rise in the shares, the stock looks fairly valued, says the analyst, who is “watching closely to see how new CEO Takeshima and the management team will chart Kyocera’s next growth story.”
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