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Hong Kong, China Begin To Participate We remain bullish and believe the path of least resistance is higher for global equities in the coming weeks and months. Where it gets difficult is in predicting near-term expectations due to the current overbought conditions based on indicators such as RSI and the percentage of MSCI ACWI stocks above their 50-day MAs. At this stage it is tough to get too excited for additional and significant near-term appreciation because of short-term overbought conditions -- but this is by no means a sell signal. Short-term “overbought” is often an intermediate/long-t...
We removed Sony from our PSA Focus List at the end of March, having been avid fans of the company’s business prospects for many years. In this report, Pelham Smithers takes a detailed look at earnings prospects for each of Sony’s divisions, identifying several which appear to be on an earnings knife-edge. Pelham produces his earnings outlook for FY20 and beyond.
SONY CORPORATION (JP), a company active in the Consumer Electronics industry, has received a double requalification by the independent financial analyst theScreener. Its fundamental valuation is now 3 out of 4 stars while its market behaviour can be considered as defensive. theScreener believes that the gain of a star(s) and an improvement in the market risk perception allows upgrading the general evaluation to Slightly Positive. As of the analysis date April 17, 2020, the closing price was JPY 6,969.00 and its potential was estimated at JPY 7,722.23.
Pelham Smithers assesses Sony’s Q3 results and provides PSA’s sum-of-the-parts calculations.
Feasibility Study Results in December to be a Catalyst for this Junior
Favor EAFE over EM The U.S. dollar remains elevated and as long as this remains the case we believe developed international equities (EAFE) will continue to outperform relative to emerging markets (MSCI EM)... see charts below. Below we highlight attractive and actionable themes within developed international: • Australia. Australia's All Ordinaries index exhibits bullish price and RS trends, a rarity when it comes to global markets considering most country-specific indexes display neutral or negative price trends. We highlight several Australian names, and would use recent broad market weak...