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Fly News Breaks for February 12, 2020
ADNT
Feb 12, 2020 | 09:21 EDT
As previously reported, Morgan Stanley analyst Armintas Sinkevicius upgraded Adient to Equal Weight from Underweight with a price target of $27, up from $17. After Adient agreed to sell its 30% stake in Yanfeng Global Automotive Interior Systems for $379M, Sinkevicius said the sale raises the multiple for the entire business in China and argues for a higher multiple for the rest of the business. The analyst, who raised his Adient estimates to account for the beat to Q1, also cites the gradual improvement in Seat Structures & Mechanisms, the company's lower leverage and the fact that production data is stabilizing in China excluding the coronavirus.
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.