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Fly News Breaks for January 24, 2017
MGA, DLPH, LEA, BWA, GNTX, TEN
Jan 24, 2017 | 07:54 EDT
After conducting checks, KeyBanc is more confident in "an extended auto cycle" and raised its price targets on several auto suppliers. It raised its price target on Tenneco (TEN) to $80 from $74, saying that its revenue growth should accelerate headed into 2018. The firm increased its price target on Gentex (GNTX) to $25 from $21, saying that its "industry leading top-line growth and margins should lead to multiple expansion." KeyBanc increased its price target on BorgWarner (BWA), citing "strong conviction" in its ability to increase its revenue by high single digit percentage levels. KeyBanc increased its price target on Lear (LEA) to $180 from $150, saying that it expects the company's "EPS growth to continue to outperformn." It keeps Overweight rating on all the stocks mentioned. The firm also keeps Overweight ratings on Delphi (DLPH) and Magna (MGA).