From Earlier: Bank of America Merrill Lynch Downgrades Visteon; Hurt By Financial Reporting, Strategy

Bank of America Merrill Lynch downgraded Visteon

from Buy to Neutral in a research report published today. Bank of America Merrill Lynch has a $50 Price Objective ("PO") on the company. In the report, Bank of America Merrill Lynch

stated, "We believe investors are becoming increasingly concerned by VC's financial reporting, which we think makes comparison to prior results and forecasts challenging. Furthermore, the company's lack of explicit actionable strategic roadmap is we think adding to investor concerns. While we believe VC may ultimately drive shareholder value by executing strategic actions (ie the purchase of Halla's 30% stub), similar discussions have been underway for over a decade with only small progress." Shares of Visteon closed down 2.77% from Wednesday's market close and are down 2.22% YTD.