ArvinMeritor's PT Raised After Investor Day

JP Morgan has published a research report on ArvinMeritor, Inc. (NYSE: ARM) and has raised the price target after attending the company's investor day.

In the report, JP Morgan writes "From FY09 to FY10, ARM exposure to South America grew to 30% of segment sales from 21% while exposure to N.A and Europe declined (N.A 43% vs. 39% in FY09 and Europe 36% vs. 31% in FY09). But more importantly, the mix of revenue of the CV division has become significantly better balanced (ie, historical over-reliance on Europe is no longer evident) and impressively more EM-focused."

JP Morgan maintains its Neutral rating and has raised the price target from $20 to $21.

ArvinMeritor, Inc. closed yesterday at $18.98.