Nissin Foods downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs analyst Takashi Miyazaki downgraded Nissin Foods (NFPDF) to Neutral from Buy with a price target of 4,200 yen, down from 4,500 yen. The firm cites “weak momentum” in the company’s Q2 results and the possibility that demand for instant noodle in the U.S. may continue to grow at a rate lower than earlier assumptions for the downgrade.