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Fly News Breaks for April 12, 2019
ADNT
Apr 12, 2019 | 06:44 EDT
BofA/Merrill analyst John Murphy upgraded Adient to Buy from Neutral and raised its price target to $25 from $19. Murphy believes Adient is in the process of refinancing its debt, despite investor concerns of a potential liquidity crunch, which would allow it to execute on its turnaround. Murphy expects new CEO DelGrosso to provide updates around its transformation plan over the next few months and expects shares to recover over time.
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