RESEARCH ALERT-NSSB cuts Honda rating to underperform

Newswire

TOKYO, Jan 29 (Reuters) - Nikko Salomon Smith Barney (NSSB) said on Wednesday that it cut its rating on Honda Motor Co to "underperform/high risk" from "in-line/high risk", while lowering its target price to 4,200 yen from 5,800 yen. In a note to clients, NSSB analyst Noriyuki Matsushima said he was increasingly concerned about a slowdown in near-term growth, including a potential deterioration in domestic earnings. Honda, Japan's second-largest automaker is set to unveil earnings for ...

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