Sony's growing exposure to anime content makes it a top stock to buy, according to Goldman Sachs
The bank upgraded Sony to"Buy" from"Neutral" and set a price target of ¥16,000 for the Tokyo-listed shares, suggesting potential upside of nearly 30% from current levels. For Sony's ADR shares, it would suggest a price target of about $115. Goldman also added Sony to its conviction list, which highlights the bank's top stock ideas.
The bank said Crunchyroll is making a significant contribution to anime's growth in overseas markets, and that by 2036 they will account for 80% of Japanese anime sales. "Crunchyroll in unique position as a dedicated anime distribution platform... Crunchyroll is now positioned as the most appealing platform for Japanese anime fans both in terms of content volume and quality," Goldman said.
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