UPDATE: Goldman Sachs Downgrades Dana Holding to Neutral, Removes from Americas Buy List

Goldman Sachs has published a research report on Dana Holding DAN and has downgraded the company from Buy to Neutral based on the company's downside risk to current guidance and demand. In the report, Goldman Sachs writes, "We are downgrading shares of Dana to Neutral from Buy, as we see downside risk to the company's current EBITDA guidance on the back of softening data points on NA truck demand and as international builds likely remain weak particularly in Brazil and China. While longer-term fundamentals are still sound, in our view, and valuation is far from stretched, we believe shares could languish in the face of weaker 2Q truck production and possible downward estimate revisions. Since adding DAN to the Buy List on 1/8/10, shares are up 27% vs. 22% for the S&P 500. Over the last 12 months, DAN shares have fallen 17% vs. a 4% gain in the S&P." Goldman Sachs has also lowered the price target from $19 to $18 on Dana Holding, which is currently trading down $0.25 from yesterday's $15.19 closing price.
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Posted In: Analyst ColorDowngradesPrice TargetAnalyst RatingsAmericas Buy ListGoldman Sachs
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