Nikon Upgraded to `Buy" by Deutsche on Expected Earnings Gain From

Nikon Upgraded to `Buy" by Deutsche on Expected Earnings Gain From ....
Aug. 24 (Bloomberg) -- Nikon Corp., Japan"s largest maker of single-lens reflex cameras in the first half, headed for its biggest weekly gain in four years after the stock was raised to ""buy"" by Deutsche Securities Inc. on expectations new models will boost earnings. The company"s shares rose 2.7 percent to 3,370 yen as of 1:29 p.m. in Tokyo. The stock gained 13 percent this week. Nikon yesterday forecast the camera division"s sales to rise 8 percent within two years as the new D3 and D300 models go on sale from November. The models from Nikon ""are likely to drive earnings for the digital camera business,"" Deutsche analyst Yoshikazu Higurashi wrote in a report today, citing their popularity among professionals and hobbyists. Higurashi raised the stock"s rating from ""hold,"" and increased the 12-month target price to 4,500 yen from 4,140 yen.