Nippon Electric Glass "overweight," target price raised

Analyst Lalita Gupta of Morgan Stanley maintains her "overweight" rating on Nippon Electric Glass (ticker: 5214).

The target price has been raised from ¥1800 to ¥2450.In a research note published this morning, the analyst mentions that the impressive start of the No 7 TFT tank has boosted the company’s monthly sales volume to 1.4 million m2.The operating profit estimates for FY05 and FY06 have been raised from ¥64.01-¥66.03 billion and from ¥67.16-¥78.26 billion, respectively. The decision on the construction of a new TFT tank and newsflow regarding the restructuring of NEG are likely to lend support to the company’s share price in 2H05, the analyst says.

600450 Nippon Electric Glass "overweight," target price raised glassonweb.com

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