Bernstein initiated coverage of Mazda Motor (MZDAY) with an Underperform rating. The firm initiated the Japan autos and auto parts sector with a bearish view. While sector-wide valuations already reflect cautious outlook with declining sales and loss in market share, Bernstein sees greater need to be selective in this space given geopolitical risks in short term and the electrified propulsion vehicle transition in mid-to-long term, the analyst tells investors in a research note.
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Read More on MZDAY:
- Mazda Motor downgraded to Neutral from Outperform at Daiwa
- EU fines car makers EUR 458M for ‘long-lasting cartel’
- Mazda North American reports March sales up 16.1% y/y to 43,097 vehicles
- Sector Spotlight: Auto industry faces uncertainty amid new tariffs
- Ford ‘relatively benefits’ from Trump tariffs, says BofA
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