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Monarch Alternative Capital sees 30 percent upside for Toshiba shares
October 3, 2017 / 9:59 AM / 2 months ago

Monarch Alternative Capital sees 30 percent upside for Toshiba shares

TEL AVIV (Reuters) - Monarch Alternative Capital recommended buying Japan’s Toshiba Corp (6502.T), saying the company’s shares have at least a 30 percent upside.

FILE PHOTO: A logo of Toshiba Corp is seen outside an electronics retail store in Tokyo, Japan, February 14, 2017. REUTERS/Toru Hanai/File Photo

Andrew Herenstein, Monarch’s chief investment officer, said on Tuesday the market is overestimating the risk of Toshiba being delisted next year, creating an overhang for the stock, which is trading at 310 yen.

Investors are also incorrectly assessing the liabilities of Toshiba’s Westinghouse Electric nuclear energy business, Herenstein said at the Sohn Conference in Tel Aviv.

Reporting by Steven Scheer

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