Sony Group (TYO:6758) shares advanced after the electronics and entertainment giant posted higher revenue and profit for the nine months to Dec. 31, 2024, and raised its full-year outlook.

Jefferies reiterated a 'BUY' rating, citing robust segment performance and future catalysts.

Sony reported a 20.8% rise in attributable profit to 943.87 billion yen, according to a Thursday filing on the Tokyo Stock Exchange.

Earnings per share climbed to 155.25 yen from 126.39 yen, reflecting a five-for-one stock split effective Oct. 1, 2024. Revenue increased 8.2% to 10.33 trillion yen.

The company lifted its full-year forecast, projecting attributable profit of 1.08 trillion yen, up 11.3%, with EPS of 155.25 yen and sales of 13.2 trillion yen, a 1.4% increase.

The second-quarter dividend was held at 50 yen per share, with a 10-yen year-end payout projected, adjusted for the split.

Jefferies maintained a 'BUY' call on Sony with a 3,890 yen price target, implying a 15% upside. It pointed to a third-quarter operating profit of 469 billion yen, which beat the 394 billion yen consensus, as strength in games and music offset seasonal trends.

The firm sees further momentum from the SFH spin-off in October and GTA6's anticipated launch later in the year but flagged February-May seasonality as a potential drag.

Price (JPY): $3705.00, Change: $+300, Percent Change: +8.65%