NITTO DENKO CORP ADR(CNV INTO 0.5 (NASDAQ:NDEKY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $37.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 12.84% from the stock’s current price.

According to Zacks, “Nitto Denko Corporation is a provider of electrical insulating materials such as double-coated tapes, sealing materials, masking tapes, surface protection materials and non-skid tapes in diverse segments of industry. Its products are designed to assure safety in offices and buildings, precision machinery, machinery & equipment used in production process, and actual work sites. The Company’s technologies and products include reinforcing, vibration-damping and sealing materials. It supplies a whole variety of adhesive tapes in medical and athletic areas. Nitto Denko Group has an extensive lineup of electronics-related products such as optical films, flexible printed circuits, thin-film metal circuit boards and semiconductor encapsulating resins which are applied to various devices including wide-screen LCD TVs, personal computers, cell phones, handheld game consoles, portable audio players, hard disk drives and so on. Nitto Denko Corporation is headquartered in Osaka, Japan. “

NITTO DENKO CORP AD (NASDAQ:NDEKY) traded down 0.39% during mid-day trading on Friday, hitting $32.79. The stock had a trading volume of 1,939 shares. The firm’s 50-day moving average price is $32.83 and its 200-day moving average price is $31.54. The stock has a market cap of $10.64 billion and a PE ratio of 16.01. NITTO DENKO CORP AD has a 1-year low of $23.21 and a 1-year high of $37.33.

5 Day Chart for NASDAQ:NDEKY

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