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Fly News Breaks for September 21, 2017
ADNT, GT, GM
Sep 21, 2017 | 08:41 EDT
Morgan Stanley analyst Adam Jonas raised his sum-of-the-parts valuation of General Motors to $56 from $50 and said the company has an opportunity to unlock hidden strategic value. The analyst, who raised his price target on GM shares to $43 from $40, moved the stock up to number three in his ranking of North American autos, and noted it is now his highest-ranked OEM. His top two picks in the space are Goodyear Tire (GT) and Adient (ADNT).
News For GM;GT;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.
GM
Mar 26, 2024 | 15:52 EDT
After this morning's collapse of the Francis Scott Key Bridge in Maryland closed the Port of Baltimore, JPMorgan economist Michael Feroli noted that the port ranks 17th among U.S. ports in tonnage handled, but ranks first for light vehicle imports and is also an important coal export terminal. However, the firm's initial assessment is that this development will "likely only have minimal implications for vehicle inflation" given that many more vehicles are imported over land from Canada and Mexico and that vessels are already being diverted to other East Coast ports. Publicly traded automakers include Ford (F), General Motors (GM), Honda (HMC), Mercedes-Benz Group (DDAIF), Nissan (NSANY), Stellantis (STLA), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY).