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Fly News Breaks for November 29, 2016
DLPH
Nov 29, 2016 | 08:06 EDT
As previously reported, Morgan Stanley downgraded Delphi to Underweight from Equal Weight and lowered its price target to $59 from $75. Analyst Adam Jonas believes an acceleration of electric vehicle strategy by Delphi's OEM customers will negatively impact growth, lower margins for ICE powertrain, and result in greater up-front RD&E costs. The analyst sees diminishing economic returns given changing OEM priorities to re-engineer propulsion systems to electric from internal combustion, creating material earnings growth risk.
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