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Fly News Breaks for November 12, 2018
ADNT
Nov 12, 2018 | 08:14 EDT
RBC Capital analyst Joseph Spak lowered his price target on Adient to $21 and kept his Sector Perform rating after its Q4 results. The analyst believes that operational issues at the company will persist and that FY18 is not the bottom, forecasting FY19 EBITDA to fall another 15%. Spak points to Adient's high leverage, suspended dividend, and feedback from its customers that suggest the possibility of reduced future growth.
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