13 Most Undervalued Blue Chip Stocks To Buy According To Analysts

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5. Sony Group Corporation (NYSE:SONY)

Forward P/E, as of September 22: 15.6

Analyst Upside Potential, as of September 22: 21%

Number of Hedge Fund Holders: 29

Sony Group Corporation (NYSE:SONY) is a leading technology company that engages in the design, development, and production of electronics and related devices for consumers across the globe. Some of its products include gaming consoles, televisions, and mobile devices.

In the fiscal first quarter of 2024, Sony Group Corporation (NYSE:SONY) logged $20.5 billion in revenue, driven by its games and entertainment segment. Its gaming segment saw an increase of 20% in sales. Revenue from its music segment, on the other hand, grew by 23%, to reach 442 billion yen.

Not only is the company witnessing an increase in subscribers, but it is also witnessing growth across borders in its music segment. For the ninth consecutive year, Sony (NYSE:SONY) saw its market grow for recorded music due to price revisions by music distributors. In addition to that, the number of monthly active users of the PlayStation grew to 116 million accounts, the highest ever for June, up by 7% year-over-year.

For the fiscal year ended 2024, Sony Group Corporation (NYSE:SONY) expects revenue to reach 4.32 trillion yen, up by 120 billion yen from the previous forecast. Overall, the company’s diversified model is its economic moat, allowing it to spread its risks evenly across multiple segments. This explains why analysts are bullish on the stock and their 12-month median price target of $115 points to a 21% upside from current levels.

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