Mizuho Securities
Mizuho Securities USA LLC
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.
Company history
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.
- 2000Formed by merging DKB, Fuji and IBJ securities subsidiaries
- 2009Merged with Shinko Securities
- 2013Merged with Mizuho Investors Securities
- 2017US arm converted to Mizuho Securities USA LLC
- 2023Mizuho Americas completed acquisition of Greenhill & Co.
- 2024US unit adopted Outperform/Neutral/Underperform relative ratings
Research
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 as of 2025. US research expanded after Bill Featherston, previously Americas director of research at Credit Suisse, became head of Americas research in January 2024, and won a 2025 Global Markets Choice Award for Best in Equity Research. Since June 2024 the US unit rates stocks Outperform, Neutral or Underperform against the analyst's industry coverage over 12 months.
Coverage12M
- Stocks
- 608
- Ratings
- 1,491
- Price targets
- 1,606
- Median upside
- +14.6%
- Upgrades
- 57
- Downgrades
- 55
- Initiations
- 0
- Reiterations
- 1,379
- Targets raised
- 886
- Targets cut
- 519
- Positive63%337
- Neutral33%176
- Negative4%22
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 MUMicron Technology, Inc. | Outperform | $1,300 |
 FIVEFive Below, Inc. | Outperform | $295 |
 AMATApplied Materials, Inc. | Outperform | $590 |
 AMDAdvanced Micro Devices, Inc. | Outperform | $625 |
 HOODRobinhood Markets, Inc. | Outperform | $140 |
 LRCXLam Research Corporation | Outperform | $365 |
 AVGOBroadcom Inc. | Outperform | $480 |
 DELLDell Technologies Inc. | Outperform | $600 |
 GLWCorning Incorporated | Outperform | $180 |
 CRDOCredo Technology Group Holding Ltd | Outperform | $245 |
Analysts24M
- Vijay RakeshCRDO · SMCI · AMAT100
- Nitin KumarPARR · DINO · CVI71
- Dan DolevHOOD · ETOR · COIN55
- Gregg MoskowitzADBE · CRWD · PLTR53
- John RobertsGLW · CC · AXTA53
- Anthony CrowdellDUK · AEP · XEL47
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
 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 | Sep 21 |
| PAPlains GP Holdings, L.P.PAGP | Target | $27 →$30 | Sep 21 | |
| PAPlains All American Pipeline, L.P.PAA | Reiterate | Outperform | $27 →$30 | Sep 21 |
| Credo Technology Group Holding LtdCRDO | Reiterate | Outperform | $290 →$245 | Sep 21 |
Similar coverage12M
References
- Research | Mizuho Americasmizuhogroup.com
- Mizuho Financial Group Form 20-F (2019)sec.gov
- Mizuho Securities USA LLC Conversion (2017)mizuhogroup.com
- Mizuho Americas hires Bill Featherston as managing director and head of researchmizuhogroup.com
- Mizuho wins 2025 Global Markets Choice Awards for Best in CLOs and Best in Equity Researchmizuhogroup.com
- Mizuho Securities USA research note with rating definitions as of 6/21/2024scribd.com