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Fly News Breaks for April 29, 2019
VC
Apr 29, 2019 | 07:28 EDT
Jefferies analyst David Kelley upgraded Visteon to Hold from Underperform while lowering his price target for the shares to $62 from $79. The current valuation adequately reflects the company's 2019 headwinds and more tempered 2020 margin outlook, Kelley tells investors in a research note. Further, Visteon's 2016-2018 backlog as well as favorable cockpit outlook point to a "strong" organic sales rebound in 2020, says the analyst.
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