Nomura Securities Stock Recommendations and Price Targets

This is a list of recent ratings by Nomura Securities.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
4/5/2024	JD JD.com	Lower Price Target	$25.00	$36.00 ➝ $33.00		Low
3/13/2024	STLA Stellantis	Reiterated Rating	$26.00		Buy ➝ Neutral	Low
2/28/2024	BYDDY BYD	Initiated Coverage	$52.00		Buy	Low
2/5/2024	SKM SK Telecom	Reiterated Rating	$20.00		Neutral ➝ Reduce	Low
1/31/2024	TM Toyota Motor	Downgrade	$232.00		Buy ➝ Neutral	Low
12/29/2023	LYFT Lyft	Downgrade	$17.00	$11.70 ➝ $13.00	Neutral ➝ Reduce	Low
12/29/2023	UBER Uber Technologies	Downgrade	$71.00	$59.00 ➝ $62.00	Buy ➝ Neutral	Low
12/18/2023	FINV FinVolution Group	Initiated Coverage	$5.00		Buy	Low
12/18/2023	QFIN Qifu Technology	Initiated Coverage	$18.00		Buy	Low
11/29/2023	BILI Bilibili	Downgrade	$11.00		Buy ➝ Neutral	Low
11/22/2023	BIDU Baidu	Upgrade	$96.00	$145.00	Neutral ➝ Buy	Low
11/21/2023	TCOM Trip.com Group	Downgrade	$49.00		Buy ➝ Neutral	Low
10/20/2023	LNVGY Lenovo Group	Upgrade	$21.00		Neutral ➝ Buy	Low
10/20/2023	SMCI Super Micro Computer	Initiated Coverage	$928.00	$413.00	Buy	Low
9/14/2023	KAIKY Kawasaki Kisen Kaisha	Downgrade	$13.00		Buy ➝ Neutral	Low
9/8/2023	INFY Infosys	Upgrade	$17.00		Reduce ➝ Neutral	Low
9/1/2023	RAFLF Raffles Medical Group	Upgrade	$1.00		Neutral ➝ Buy	Low
9/1/2023	KUBTY Kubota	Upgrade	$78.00		Neutral ➝ Buy	Low
8/31/2023	HDALF Haidilao International	Upgrade	$2.00		Neutral ➝ Buy	Low
8/22/2023	PECGF PETRONAS Chemicals Group Berhad	Upgrade	$1.00		Neutral ➝ Buy	Low
8/17/2023	KSANF Kansai Paint	Downgrade	$16.00		Buy ➝ Neutral	Low
8/17/2023	BWA BorgWarner	Downgrade	$32.00	$44.00	Buy ➝ Neutral	Low
8/9/2023	TRYIY Toray Industries	Downgrade	$9.00		Buy ➝ Neutral	Low
8/7/2023	FUJHY Subaru	Downgrade	$11.00		Buy ➝ Neutral	Low
8/4/2023	DQ Daqo New Energy	Upgrade	$23.00	$45.00	Neutral ➝ Buy	Low
6/20/2023	HMC Honda Motor	Downgrade	$34.00		Buy ➝ Neutral	Low
6/12/2023	NIO NIO	Downgrade	$4.00	$25.80 ➝ $7.50	Buy ➝ Neutral	Low
6/2/2023	NIPPF Nippon Accommodations Fund	Downgrade	$4,603.00		Buy ➝ Neutral	Low
5/29/2023	PDD PDD	Boost Price Target	$114.00	$105.00 ➝ $110.00		Low
5/17/2023	GT Goodyear Tire & Rubber	Downgrade	$12.00	$17.00	Buy ➝ Neutral	Low
4/13/2023	INFY Infosys	Downgrade	$17.00		Buy ➝ Neutral	Low
4/5/2023	ATEYY Advantest	Initiated Coverage	$36.00		Neutral	Low
4/5/2023	TOELY Tokyo Electron	Initiated Coverage	$116.00		Buy	Low
4/5/2023	DSCSY Disco	Initiated Coverage	$34.00		Buy	Low
3/23/2023	VNET VNET Group	Downgrade	$1.00		Buy ➝ Neutral	Low
3/1/2023	TOKCF Tokyo Ohka Kogyo	Upgrade	$19.00		Neutral ➝ Buy	Low
3/1/2023	RKSLF Raksul	Initiated Coverage	$10.00		Buy	Low
2/28/2023	KKKUF Kakaku.com	Downgrade	$11.00		Buy ➝ Neutral	Low
2/24/2023	VIPS Vipshop	Upgrade	$15.00		Neutral ➝ Buy	Low
2/10/2023	KT KT	Downgrade	$12.00		Buy ➝ Neutral	Low
2/9/2023	SKM SK Telecom	Downgrade	$20.00		Buy ➝ Neutral	Low
12/26/2022	YMZBY Yamazaki Baking	Downgrade	$152.00		Buy ➝ Neutral	N/A
12/19/2022	KIKOF Kikkoman	Upgrade	$13.00		Reduce ➝ Neutral	Low
11/24/2022	IQ iQIYI	Lower Price Target	$4.00	$3.90 ➝ $2.60		Low
11/11/2022	AACAY AAC Technologies	Upgrade	$3.00		Neutral ➝ Buy	Low
11/11/2022	HHUSF Hua Hong Semiconductor	Upgrade	$2.00		Neutral ➝ Buy	Low
11/11/2022	MZDAY Mazda Motor	Upgrade	$5.00		Neutral ➝ Buy	Low
11/10/2022	BSEFY Benesse	Downgrade	$17.00		Buy ➝ Neutral	Low
11/1/2022	CHPXF China Pacific Insurance (Group)	Upgrade	$2.00		Neutral ➝ Buy	Low
11/1/2022	SMFG Sumitomo Mitsui Financial Group	Reiterated Rating	$11.00		Buy	Low
10/20/2022	STLA Stellantis	Upgrade	$26.00		Neutral ➝ Buy	Low
8/30/2022	PDD PDD	Upgrade	$114.00		Neutral ➝ Buy	Low
8/29/2022	NIPOF Japan Hotel REIT Investment	Downgrade	$500.00		Buy ➝ Neutral	Low
8/25/2022	KUASF Kuaishou Technology	Downgrade	$6.00		Buy ➝ Neutral	Low
8/19/2022	SHWDY Resonac	Downgrade	$25.00		Neutral ➝ Reduce	Low
8/15/2022	MKTAY Makita	Downgrade	$27.00		Buy ➝ Neutral	Low
7/29/2022	GDS GDS	Downgrade	$6.00		Buy ➝ Neutral	Low
7/21/2022	F Ford Motor	Upgrade	$12.00	$12.40	Reduce ➝ Neutral	Low
7/8/2022	TOELY Tokyo Electron	Downgrade	$116.00		Buy ➝ Neutral	N/A
7/1/2022	NIO NIO	Lower Price Target	$4.00	$51.50 ➝ $25.80		Low
6/30/2022	XPEV XPeng	Downgrade	$7.00	$64.60 ➝ $36.30	Buy ➝ Neutral	Low
5/27/2022	KAIKY Kawasaki Kisen Kaisha	Upgrade	$13.00		Neutral ➝ Buy	Low
5/25/2022	WIT Wipro	Downgrade	$5.00		Buy ➝ Neutral	Low
5/25/2022	TRYIY Toray Industries	Upgrade	$9.00		Neutral ➝ Buy	Low
5/24/2022	CFTLF Chinasoft International	Initiated Coverage	$1.00		Buy	Low
5/18/2022	ARHCF Alfresa	Upgrade	$12.00		Reduce ➝ Neutral	N/A
5/16/2022	API Agora	Upgrade	$2.00	$11.00 ➝ $10.00	Neutral ➝ Buy	High
5/10/2022	GT Goodyear Tire & Rubber	Upgrade	$12.00	$15.00 ➝ $15.30	Neutral ➝ Buy	Low
4/7/2022	HIMX Himax Technologies	Downgrade	$5.00	$11.00	Buy ➝ Neutral	High
3/28/2022	NIO NIO	Lower Price Target	$4.00	$67.10 ➝ $51.50	Buy	High
3/28/2022	SUTNY Sumitomo Mitsui Trust	Initiated Coverage	$4.00		Buy	High
3/28/2022	CNPPF China Overseas Property	Upgrade	$1.00		Neutral ➝ Buy	Low
3/22/2022	PDD PDD	Downgrade	$114.00	$95.00 ➝ $48.00	Buy ➝ Neutral	High
2/14/2022	GT Goodyear Tire & Rubber	Upgrade	$12.00	$14.00 ➝ $15.00	Reduce ➝ Neutral	Medium
2/9/2022	GM General Motors	Lower Price Target	$42.00	$66.00 ➝ $56.00	Buy ➝ Neutral	Low
1/27/2022	NTDOY Nintendo	Initiated Coverage	$12.00		Buy	Low
1/25/2022	UMC United Microelectronics	Downgrade	$8.00		Buy ➝ Neutral	Medium
11/2/2021	F Ford Motor	Downgrade	$12.00	$13.00	Neutral ➝ Reduce	Low
10/14/2021	LI Li Auto	Initiated Coverage	$29.00	$43.40	Buy	High
9/29/2021	KC Kingsoft Cloud	Downgrade	$3.00	$45.00 ➝ $33.00	Buy ➝ Neutral	High
9/15/2021	LPL LG Display	Downgrade	$4.00		Buy ➝ Neutral	Medium
8/19/2021	DQ Daqo New Energy	Upgrade	$23.00	$48.00 ➝ $53.00	Reduce ➝ Neutral	Medium
7/29/2021	LPL LG Display	Upgrade	$4.00		Neutral ➝ Buy	Low
6/25/2021	ASX ASE Technology	Downgrade	$10.00		Buy ➝ Neutral	Low
6/18/2021	YY JOYY	Reiterated Rating	$33.00	$148.00	Buy	High
6/14/2021	KUBTY Kubota	Downgrade	$78.00		Buy ➝ Neutral	Low
6/14/2021	RICOY Ricoh	Downgrade	$9.00		Buy ➝ Neutral	Low
6/10/2021	KEP Korea Electric Power	Downgrade	$7.00		Buy ➝ Neutral	Low
5/25/2021	XPEV XPeng	Initiated Coverage	$7.00	$47.00	Buy	High
5/10/2021	GOTU Gaotu Techedu	Upgrade	$6.00	$48.00 ➝ $29.50	Reduce ➝ Neutral	High
4/28/2021	LPL LG Display	Downgrade	$4.00		Buy ➝ Neutral	High
4/26/2021	UBER Uber Technologies	Initiated Coverage	$71.00		Buy	N/A
4/26/2021	TAL TAL Education Group	Reiterated Rating	$12.00	$68.00	Buy ➝ Neutral	High
4/20/2021	UBER Uber Technologies	Initiated Coverage	$71.00	$80.00	Buy	High
4/20/2021	TAL TAL Education Group	Downgrade	$12.00	$68.00	Buy ➝ Neutral	High
4/20/2021	LYFT Lyft	Initiated Coverage	$17.00		Neutral	Medium