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Fly News Breaks for September 13, 2019
SAH, LAD, APTV, ADNT, ABG
Sep 13, 2019 | 06:38 EDT
BofA/Merrill analyst John Murphy is taking a "more neutral stance" on the automotive sector to reflect the greater market and macro uncertainty and also cites numerous "swing factors" that include trade and technical issues, even though some of the stocks in the auto group have already come down to "trough valuations". The analyst downgrades Asbury Auto (ABG), Adient (ADNT), and Aptiv (APTV) from Buy to Neutral, and also cuts Lithia Motors (LAD) and Sonic Auto (SAH) from Neutral to Underperform.
News For ABG;ADNT;APTV;LAD;SAH From the Last 2 Days
ADNT
Mar 27, 2024 | 09:47 EDT
In slides being presented at the Bank of America Automotive Summit, Adient says stronger business performance is partially offsetting softer than expected volume. Business performance is tracking ahead of schedule, driving earnings improvement, the company says.