J.P. Morgan Raises ArvinMeritor PT From $20 To $21

By BenzingaStaffL
December 08, 2010 8:35 AM

Symbols: ARM

Following ArvinMeritor, Inc.'s (NYSE: ARM) investor day, J.P. Morgan is raising its Dec-2011 price target of $20 to $21 based on 2012E EBITDA (using 6.5x EV/EBITDAPO multiple) and reiterate its Neutral rating with a positive bias.

ArvinMeritor closed Tuesday at $18.98.

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