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Fly News Breaks for April 1, 2019
APTV, ADNT
Apr 1, 2019 | 08:14 EDT
As previously reported, Baird analyst David Leiker upgraded Adient (ADNT) to Neutral from Underperform, stating that he believes execution risks are likely better reflected following the 24% year-to-date decline in the stock. More broadly, Leiker said autos are having a difficult start to 2019, much like he expected, and he would remain selective within the space. His best overall idea in the group remains Aptiv (APTV), citing its strong above-market growth, solid execution, and opportunity for double-digit revenue and EPS growth during the second half, Leiker noted. He maintains a $14 price target on Adient shares and has an $85 price target on Aptiv shares.