Yamaha Motor downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Masatoshi Terashi downgraded Yamaha Motor (YAMHF) to Equal Weight from Overweight with a price target of 1,100 yen, down from 1,700 yen. Earnings are picking up from a floor, but a swift recovery in markets including outboard motors seems unlikely and the effects of U.S. reciprocal tariffs could also widen beyond the firm’s working assumption, the analyst tells investors.