Sony price target raised to $33 from $25 at Oppenheimer

Oppenheimer analyst Martin Yang raised the firm’s price target on Sony (SONY) to $33 from $25, among the highest on the Street, and keeps an Outperform rating on the shares. The firm’s bullish conviction in Sony’s outlook in the next 12-18 is based on sustained revenue growth and accelerating profit margin expansion at PlayStation. Oppenheimer believes most investors underappreciate Sony’s structural advantage in the gen 9 console market. The firm expects PlayStation’s market share dominance to enhance revenue and profit growth from network services and major 1P/3P game releases in 2025.