Mizuho Securities
Mizuho Securities USA LLC is the New York-based US broker-dealer of Japan's Mizuho Financial Group, within the Tokyo-headquartered Mizuho Securities franchise. It publishes US equity research alongside the group's research teams in Japan and Hong Kong.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 60812M
- Actions
- 3,09712M
- Ratings / Price targets
- 1,491 / 1,606
- Upgrades / Downgrades
- 57 / 55
- Buy-rated
- 63%of 535 rated
- Median upside
- +14.6%
- Targets raised / lowered
- 886 / 519
- On record
- May 2012 – Sep 2026
Overview
As of 2025, Mizuho's global equity research team has more than 100 analysts and strategists in the Americas, Japan and Hong Kong, covering over 1,000 companies. Its U.S. research business expanded after Bill Featherston, previously Americas director of research at Credit Suisse, became head of Americas research in January 2024. It won the 2025 Global Markets Choice Award for Best in Equity Research. Corporate access services range from expert calls and field trips offered by Mizuho Americas to the annual Japan Alpha Conference, held in Tokyo since 2020.
Mizuho Securities was formed on 1 October 2000 by merging the securities subsidiaries of Dai-Ichi Kangyo Bank, Fuji Bank and the Industrial Bank of Japan. It merged with Shinko Securities in 2009 and absorbed Mizuho Investors Securities in January 2013. The US broker-dealer, formerly Fuji Securities Inc., converted from Mizuho Securities USA Inc. into Mizuho Securities USA LLC in 2017, and its holding company Mizuho Americas acquired M&A adviser Greenhill & Co. in December 2023.
Milestones
- 2000
Formed by merging DKB, Fuji and IBJ securities subsidiaries
- 2009
Merged with Shinko Securities
- 2013
Merged with Mizuho Investors Securities
- 2017
US arm converted to Mizuho Securities USA LLC
- 2023
Mizuho Americas completed acquisition of Greenhill & Co.
- 2024
US unit adopted Outperform/Neutral/Underperform relative ratings
Firm facts
- Legal name
- Mizuho Securities USA LLC
- Type
- Full-service
- Founded
- 2000
- Headquarters
- New York, United States
- Parent
- Mizuho Financial Group
- Listing
- NYSE: MFG
- President & CEO, Mizuho Securities USA
- Jerry Rizzieri
- Head of Americas Equity Research
- Bill Featherston
- Rating scale
- OutperformNeutralUnderperform12 months
- Also filed as
- Mizuho
- Website
- mizuhogroup.com
Research philosophy
The real goal of research is not simply acquiring alpha but to ensure the proper financial stewardship of an investment.
In 2023, Mizuho Securities' Tokyo equity research head, Hidekatsu Watanabe, said the department sought to distinguish itself through high-quality reports, younger analysts willing to challenge conventional wisdom, and discussions with company management.
Rating methodology
Since June 2024, the U.S. unit has rated stocks Outperform, Neutral or Underperform based on expected 12-month performance relative to the analyst's industry coverage.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 Micron Technology, Inc.MU | Outperform | $1,300 |
 Five Below, Inc.FIVE | Outperform | $295 |
 Applied Materials, Inc.AMAT | Outperform | $590 |
 Advanced Micro Devices, Inc.AMD | Outperform | $625 |
 Robinhood Markets, Inc.HOOD | Outperform | $140 |
 Lam Research CorporationLRCX | Outperform | $365 |
 Broadcom Inc.AVGO | Outperform | $480 |
 Dell Technologies Inc.DELL | Outperform | $600 |
 Corning IncorporatedGLW | Outperform | $180 |
 Credo Technology Group Holding LtdCRDO | Outperform | $245 |
Most active analysts
- Vijay Rakesh100 notesCRDOSMCIAMAT
- Nitin Kumar71 notesPARRDINOCVI
- Dan Dolev55 notesHOODETORCOIN
- Gregg Moskowitz53 notesADBECRWDPLTR
- John Roberts53 notesGLWCCAXTA
- Anthony Crowdell47 notesDUKAEPXEL
Recent actions
| Date | Stock | Rating action | Rating | Target | Analyst |
|---|---|---|---|---|---|
| Sep 21 |  Equity LifeStyle Properties, Inc.ELS | Downgrade | Outperform →Neutral | $65 | |
| Sep 21 | AMAmerican Homes 4 RentAMH | Upgrade | Neutral →Outperform | $35 →$36 | |
| Sep 21 |  Invitation Homes Inc.INVH | Target | $31 →$32 | ||
| Sep 21 |  Fluence Energy, Inc.FLNC | Reiterate | Underperform | $13 →$6 | Maheep Mandloi |
| Sep 21 | PAPlains GP Holdings, L.P.PAGP | Target | $27 →$30 | Gabriel Moreen | |
| Sep 21 | PAPlains All American Pipeline, L.P.PAA | Reiterate | Outperform | $27 →$30 | Gabriel Moreen |
| Sep 21 | Credo Technology Group Holding LtdCRDO | Reiterate | Outperform | $290 →$245 | Vijay Rakesh |