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Fly News Breaks for January 23, 2019
DLPH
Jan 23, 2019 | 07:42 EDT
As previously reported, RBC Capital analyst Joseph Spak downgraded Delphi Technologies to Sector Perform and kept his $17 price target. The analyst notes that his positive long-term investment outlook on the shares remains intact, but he sees 2019 as a "transition year" for the company to undertake "new technology revenue growth opportunity as well as cost/cash improvement" initiatives. Spak further contends that the efforts under Delphi's new CEO Rick Dauch will not materialize until 2020-2021, particularly given that the company's China GDi business is rolling off more quickly.
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