Fly News Breaks for January 27, 2020
Jan 27, 2020 | 06:11 EDT
Credit Suisse analyst Dan Levy upgraded Adient to Outperform from Neutral with a price target of $26, up from $22. In a research note to investors, Levy says Adient stands out in the auto sector, which is being dominated by a choppy macro backdrop, as its "back to basics" self-help can drive earnings growth independent of macro recovery. The analyst says given Adient is a pure-play in seating, it is only managing "one clock," focusing purely on fixing its launch issues in a straightforward non- capital intensive product area, a contrast to. others managing product transitions as they juggle the "two clocks." The analyst sees EBITDA growth of 10% over the next three years, far exceeding the group average of +5%.
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