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Fly News Breaks for October 11, 2018
DLPH
Oct 11, 2018 | 07:08 EDT
As previously reported, Goldman Sachs analyst David Tamberrino downgraded Delphi Technologies to Neutral from Buy and lowered his price target for the shares to $30 from $53. Delphi's revenue growth and margin profile have seen downward revisions since the company's spinoff last year and pairing this with the departure of CEO Liam Butterworth leaves Tamberrino with longer-term concerns about the company's previously laid out trajectory, he tells investors. The analyst, who believes margin pressure will likely persist as revenues shift from higher profit light duty diesel, cut his 2018-2020 EPS estimates by an average 17%.
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