Murata Manufacturing downgraded to Hold from Buy at Jefferies

Jefferies analyst Bolor Enkhbaatar downgraded Murata Manufacturing to Hold from Buy with a price target of 9,300 yen, up from 8,900 yen, after updating earnings forecasts for Japan’s Multi-Layer Ceramic Capacitor, or MLCC, players to reflect softer-than-expected demand for broad end-applications and delayed timing of a “full-fledged recovery.”