Sony upgraded to "buy" by Jefferies

[-CraZed-]

tiffac said:

-CraZed- said:

Blood_Tears said:
But but..why would anyone buy into a "junk status" company?

Buy low sell high? No where to go but up?

Sony has several very profitable divisions, one being their financials andinsurance division, and they just laid off 5,000 workers which should save them about $1 billion (which is about what their net losses were this fiscal year) so a return to profitability is likely after the restructuring.

I thought the 5k job cuts won't take effect until sometime between 2015 and 2016?

I didn't see a time table for that so you may be right. Link?