Makita downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Tomohiko Sano downgraded Makita to Underweight from Neutral with a price target of 2,700 yen, down from 2,800 yen. The analyst cites lower U.S. and European demand forecasts due to the "increasingly uncertain" outlook for housing markets and consumer spending as global interest rates rise for the downgrade.