JP Morgan Reiterates Neutral on Dana Holdings
JP Morgan maintains its Neutral rating on Dana Holding (NYSE: DAN) on largely in-line Q4 results as well as upcoming CFO change.
JP Morgan says, "4Q in Line with Guidance; CV Margins Strong, OffHighway Weak ...DAN appointed former Visteon CFO William Quigley as its CFO; the current CFO is expected to step down in May-2012 post the end of his contract. While many Dana investors may not be highly familiar with Bill Quigley (since Visteon was not highly followed by the traditional equity investment community), we have a a fairly positive view on him. Expect a neutral-ish reaction to these results."
DAN closed at $16.45 a share on Friday.
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