Investors are getting increasingly bullish on Japanese technology giant Sony thanks to its booming PlayStation gaming business, which could help propel the company's earnings to a new record level.
On Friday, Nomura upped its price target for Sony's stock to 8,000 Japanese yen ($71.43), marking a more than 27 percent rise from Monday's opening price. Last month, Credit Suisse upgraded its outlook on the shares from "neutral" to "outperform." The average price target from analysts on Sony's shares is 7,730.50 yen, which if realized, would represent a 23.7 percent increase, according to data from Reuters.
And expectations have been rising quickly. Just three months ago, the average price target for the stock among analysts was 6,587.27 yen. Sony shares are already up over 22 percent so far in 2018.
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