Jefferies & Company Reiterates Buy Rating, $55 PT on TRW Automotive Holdings
In a report published Monday, Jefferies & Company reiterated its Buy rating and $55.00 price target on TRW Automotive Holdings (NYSE: TRW).
Jefferies noted, “On Monday before market open TRW announced a plan to repurchase up to $1 billion of stock over the next two years, beginning in 4Q:12. This translates to roughly 20% of the market cap. The unexpected timing of the news could be a positive development for ALV (EC antitrust settlement?) and the group overall (visibility into a bottom in the European cycle?).”
TRW Automotive Holdings closed on Friday at $43.71.
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