UPDATE: Jefferies Lowers PT on Dana Holding Corporation from $22 to $21
Jefferies reiterated a Buy rating on Dana Holding Corporation (NYSE: DAN) and lowered its price target from $22 to $21.
Jefferies noted, “DAN shares leapt 14.8% (vs. the S&P 500 up 1.7%) after the company posted a 2Q EPS beat. Management lowered full year guidance modestly, but margins and earnings remain remarkably intact despite a lower volume and revenue outlook. We believe this quarter proved out our contract repricing thesis on the stock. Reiterate Buy.”
Dana Holding Corporation closed at $12.99 on Thursday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.