CLSA upgraded shares of Canon Inc. (NYSE:CAJ) from an underperform rating to an outperform rating in a report issued on Friday.

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Canon from a hold rating to a sell rating in a research note on Tuesday, November 15th. TheStreet raised shares of Canon from a hold rating to a buy rating in a research note on Tuesday, August 23rd. JPMorgan Chase & Co. lowered shares of Canon from a neutral rating to an underweight rating in a research note on Wednesday, October 26th. Finally, Bank of America Corp. lowered shares of Canon from a neutral rating to an underperform rating in a research note on Thursday, October 27th. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $33.00.

Canon (NYSE:CAJ) opened at 28.75 on Friday. Canon has a 52 week low of $26.60 and a 52 week high of $31.39. The company has a 50 day moving average of $28.58 and a 200 day moving average of $28.60. The company has a market capitalization of $31.40 billion, a price-to-earnings ratio of 19.95 and a beta of 0.57.

COPYRIGHT VIOLATION NOTICE: “Canon Inc. (CAJ) Lifted to Outperform at CLSA” was originally reported by Daily Political and is the propert of of Daily Political. If you are accessing this article on another site, it was illegally stolen and republished in violation of US & international trademark and copyright legislation. The original version of this article can be read at http://www.dailypolitical.com/2016/11/30/canon-inc-caj-lifted-to-outperform-at-clsa.html.

Several hedge funds have recently added to or reduced their stakes in CAJ. Aperio Group LLC raised its stake in Canon by 3.8% in the third quarter. Aperio Group LLC now owns 1,999,435 shares of the company’s stock valued at $58,044,000 after buying an additional 73,167 shares during the last quarter. US Bancorp DE raised its stake in Canon by 16.9% in the second quarter. US Bancorp DE now owns 661,606 shares of the company’s stock valued at $18,929,000 after buying an additional 95,561 shares during the last quarter. FMR LLC raised its stake in Canon by 28.4% in the second quarter. FMR LLC now owns 464,585 shares of the company’s stock valued at $13,292,000 after buying an additional 102,870 shares during the last quarter. First Trust Advisors LP raised its stake in Canon by 21.4% in the third quarter. First Trust Advisors LP now owns 459,676 shares of the company’s stock valued at $13,344,000 after buying an additional 81,144 shares during the last quarter. Finally, LSV Asset Management raised its stake in Canon by 15.8% in the third quarter. LSV Asset Management now owns 285,900 shares of the company’s stock valued at $8,299,000 after buying an additional 39,000 shares during the last quarter. 1.52% of the stock is owned by institutional investors and hedge funds.

About Canon

Canon Inc (Canon) is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. Canon sells its products principally under the Canon brand name and through sales subsidiaries. Each of these subsidiaries is responsible for marketing and distribution to retail dealers in an assigned territory.

5 Day Chart for NYSE:CAJ

Receive News & Ratings for Canon Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canon Inc. and related companies with MarketBeat.com's FREE daily email newsletter.