Nuclear operator Kansai Electric Power Co.’s most bullish analyst is now one of its most bearish. SMBC Nikko Securities Inc. analyst Hidetoshi Shioda cut the Japanese utility’s rating to neutral from outperform and slashed his profit forecast and share price target, according to a note Tuesday. Before the downgrade the price target was the highest of 10 analysts who provide price targets on Bloomberg. Shioda believes Japan’s second-largest electric utility won’t be able to operate any of its nuclear reactors through at least March 2019 as an unprecedented local court challenge blocks restarts. Kansai Electric shares fell 5.6 percent in Tokyo trading on Wednesday, the biggest decline since March 10.
Bloomberg 15th June 2016 read more »