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Fly News Breaks for January 23, 2019
ADNT
Jan 23, 2019 | 07:58 EDT
As previously reported, RBC Capital analyst Joseph Spak downgraded Adient to Underperform from Sector Perform and also lowered his price target to $16 from $17. The analyst notes that the company had been a "popular short on operational troubles and balance sheet risk", but shares rose 24% year to date on a "short covering and momentum" driven rally. Spak believes that it is difficult to justify Adient's current levels from a fundamental approach, adding that while he is positive on the approach of the company's new CEO, visibility is limited and the turnaround process is likely to be "long and hard".
News For ADNT 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.