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Fly News Breaks for April 29, 2019
VC
Apr 29, 2019 | 08:31 EDT
BMO Capital analyst Richard Carlson lowered his price target on Visteon to $83 after its Q1 earnings miss, but believes that the issues in the quarter around higher engineering spending and new product launch challenges were "transient". The analyst also notes that the subsequent sell-off in the stock is likely "well overdone" and keeps his Outperform rating, noting that the company's order intake "continues at an impressive pace" that will result in a "tailwind of backlog converting to revenue intensifying over the next several years."
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