Makita upgraded to Buy from Neutral at UBS

UBS analyst Tsubasa Sasaki upgraded Makita (MKTAY) to Buy from Neutral with a price target of 5,900 yen, up from 4,800 yen. The company reported “strong” fiscal Q3 results as its profit improved substantially, the analyst tells investors in a research note. The firm believes Makita’s “solid” earnings will continue while the stock’s valuation looks “undemanding.”