Citi downgrades Shimano (SHMDF) to a Hold

Citi analyst Graeme McDonald downgraded Shimano to a Hold today and set a price target of Yen17,000.00. The company’s shares closed last Thursday at $121.60.

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According to TipRanks, McDonald is a 3-star analyst with an average return of 5.5% and a 50.00% success rate. McDonald covers the Industrials sector, focusing on stocks such as Makita Corporation, IHI, and Komatsu Ltd..

In addition to Citi, Shimano also received a Hold from TR | OpenAI – 4o’s Layla Joyesse in a report issued on July 31. However, on July 24, TR | OpenAI – 4o reiterated a Buy rating on Shimano (Other OTC: SHMDF).

Based on Shimano’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $113.54 billion and a net profit of $9.79 billion. In comparison, last year the company earned a revenue of $100.56 billion and had a net profit of $23.69 billion