SoftBank gets first ‘sell’ rating in four years

SoftBank, founded by Masayoshi Son,(pic) has been reaching new highs as it recovers from challenges, such as the coronavirus pandemic and the meltdown of WeWork.

TOKYO: SoftBank Group Corp got the equivalent of a “sell” rating for the first time in more than four years after a surge in its shares pushed them beyond the price target for many analysts.

Dan Baker, an analyst with Morningstar Inc, downgraded the Tokyo-based company to two stars as its stock closed at 8,758 yen, the highest price since February 2000.