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TOWR

Tower International

$18.28

-0.185 (-1.00%)

09:02
07/12/19
07/12
09:02
07/12/19
09:02

Autokiniton Global to acquire Tower International for $31 per share in cash

Autokiniton Global Group and Tower International announced they have entered into a definitive agreement for AGG to acquire Tower for $31 per share in cash. AGG is a portfolio company of KPS Capital Partners, a leading global private equity firm with over $5B of assets under management. The all-cash transaction represents a 70% premium to Tower's closing stock price on July 11. Including Tower's debt and pension related liabilities, the total value of the transaction is approximately $900M. The transaction is anticipated to close in September or October.

TOWR Tower International
$18.28

-0.185 (-1.00%)

08/28/18
WELS
08/28/18
NO CHANGE
WELS
Tentative U.S./Mexico trade deal a starting point for auto stock recovery, says Wells Fargo
Wells Fargo analyst Richard Kwas believes the U.S./Mexico tentative trade deal is a positive for the automotive space in the interim. In his view, part of the recent underperformance has come from trade uncertainty. NA centric supplier names like Magna (MGA) and Tower International (TOWR) could be the biggest beneficiaries. MGA does have material revenue exposure to Canada and therefore the absence of Canada in a final agreement would create some level of complication for the company relative to the rest of supplier group, he notes. Kwas believes the decision to limit non Mexico/U.S. content to 25% of vehicle value coupled with the 40%-45% minimum threshold for $16/hour manufacturing jobs should stabilize or increase U.S. share of vehicle production.
10/30/18
ROTH
10/30/18
NO CHANGE
Target $36
ROTH
Buy
Tower International price target lowered to $36 from $43 at Roth Capital
Roth Capital analyst Matt Koranda lowered his price target for Tower International to $36 from $43 to reflect incremental pro-forma lease-related debt. The analyst notes that the company delivered solid Q3 results and reiterated the fundamental drivers of its 2018 outlook. He reiterates a Buy rating on the shares.
02/13/19
GHSC
02/13/19
INITIATION
GHSC
Neutral
Tower International initiated with a Neutral at Seaport Global
02/13/19
ROTH
02/13/19
NO CHANGE
Target $32
ROTH
Buy
Tower International selloff appears overdone, says Roth Capital
Roth Capital analyst Matt Koranda said Tower International's Q4 results were "noisy," which he attributes to the divestiture of its Europe segment and reinstatement of Brazil. Though the 2019 adjusted EBITDA outlook was "slightly soft," Koranda said he doesn't view that as a source of long-term concern. On the other hand, the 2020 outlook was well ahead of his expectations and gives a window into the company's "intrinsic earnings power," said the analyst, who thinks the selloff in the shares has been overdone. He reiterates a Buy rating on Tower International with a $32 price target, down from $37 previously.

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