Bank of America Securities analyst Mikio Hirakawa has maintained their bullish stance on SNEJF stock, giving a Buy rating on February 25.
Mikio Hirakawa has given his Buy rating due to a combination of factors influencing Sony’s growth potential, particularly in the anime sector. The global anime market has seen significant expansion, with Japan’s anime market growing at a compound annual growth rate of 8% from 2015 to 2023, and overseas sales growing even faster at 15%. This growth is largely attributed to the globalization of anime and the capture of casual viewers, with platforms like Netflix playing a crucial role in distributing anime content internationally.
Moreover, there is substantial upside potential in the secondary use of anime intellectual property (IP) overseas, such as character goods and live events, which currently account for a large portion of Japan’s anime market. The ability to acquire strong IP, classified as S-rank or A-rank, is key to success in this area. These factors, combined with Sony’s strategic positioning in the anime market, underpin Mikio Hirakawa’s Buy rating for Sony’s stock.
According to TipRanks, Hirakawa is a 4-star analyst with an average return of 26.4% and an 81.82% success rate.
In another report released on February 25, Macquarie also maintained a Buy rating on the stock with a Yen4,340.00 price target.