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Fly News Breaks for September 10, 2019
GTX
Sep 10, 2019 | 08:10 EDT
Morgan Stanley analyst Armintas Sinkevicius initiated Garrett Motion with an Underweight rating and $8 price target, stating that he sees pressure on production, price, and margins given the industry transition toward battery electric vehicles and away from the internal combustion engine. Given its higher leverage, Sinkevicius sees it as unlikely that Garrett Motion would be involved in powertrain consolidation, either as an acquiror or a target, he noted.
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