Jefferies: Dana Undergoing Post-Bankruptcy Management Transition

In a research report published earlier today, Jefferies revealed that Dana Holding Corp.

is completing its management switch-up following its previous bankruptcy period. Jefferies stated in the report, “DAN beat 4Q consensus expectations by 10.5%, although EBITDA was roughly in-line with consensus. Mgmt had pre-reported preliminary 4Q results at last month's auto show. Even still, CV margins upsided expectations, a key reason to own the stock. CFO Jim Yost is stepping down mid-year, with a new external hire already identified from Visteon. This completes the mgmt transition from the bankruptcy period.” Jefferies maintains its Buy rating and $21 PT on Dana, which is currently trading at $15.94.