SoftBank Gets First Sell Rating in Four Years After 80% Surge
- Morningstar drops rating to two stars after price increase
- SoftBank has had several portfolio companies go public
This article is for subscribers only.
SoftBank Group Corp. got the equivalent of a sell rating for the first time in more than four years after a surge in its shares pushed them beyond the price target for many analysts.
Dan Baker, an analyst with Morningstar Inc., downgraded the Tokyo-based company to two stars as its stock closed at 8,758 yen, the highest price since February 2000. The analyst’s price target for the stock is 7,400 yen. Shares have climbed about 80% in the last year and passed that target in December.