Sony valuation ‘undemanding’ even after share gains
The multinational conglomerate is focusing on higher-margin and recurring sources of revenue, with content – music, movies and games – as the key driver.
Sony shares have made solid gains over the past couple of weeks as the electronics and entertainment conglomerate reported a strong fiscal third quarter and lifted guidance again.
Supporting the strong result was the launch of the PlayStation 5 and the rest of the PlayStation business. The valuation is very undemanding even after a strong recent performance, and the shares remain appealing in our view.
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Greg Smith is head of research at investment research and funds management house Fat Prophets.
