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Fly News Breaks for May 17, 2016
CVGI
May 17, 2016 | 07:04 EDT
Seaport Global analyst Michael Shlisky upgraded Commercial Vehicle Group to Buy and raised its price target to $5 from $3 following recent management meetings. The new CEO seems confident that cost reductions can accelerate from here as footprint rationalizations ramp and standardization of processes are rolled out, the analyst wrote. Further, Shlisky said management noted breakeven has been significantly reduced to the point where the company can make money with revenues well below $150M per quarter.
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