Takata Corp. was suspended from coverage by a securities firm that said the lawsuits and recalls the air bag maker faces in the U.S. cloud its earnings outlook.

"It has become impossible, in our view, to ascribe a rationally based target price and investment rating to the stock in this volatile environment," Kunihiro Matsumoto and Ryota Shimizu of SMBC Nikko Securities Inc. wrote in a report Tuesday.

The analysts had previously assigned a neutral rating and set a price target of ¥1,800, which was 57 percent higher than Takata's latest closing price.

Takata has been accused of a years-long coverup involving defective air bags in the latest of about a dozen class-action lawsuits filed against the company.

Carmakers led by Honda Motor Co. have recalled almost 8 million cars in the U.S. since last year to replace safety devices that can deploy with too much force and spray metal shrapnel at passengers.

The company tested its air bags after a Honda driver was injured in Alabama in 2004, according to the complaint filed by eight consumers on Nov. 7 in Los Angeles federal court.

"The testing revealed that the steel canisters used to house the air bag's rapid inflation system contained cracks that compromised its structural integrity," according to the complaint. "Upon learning that information, Takata ordered its technicians to destroy all evidence of the test results, including video footage and computer backup files."

The New York Times reported the alleged coverup last week, and its article is cited in the court filing. U.S. Sens. Edward Markey and Richard Blumenthal have called for the Justice Department to open a criminal investigation.