UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Dana Holding Corporation
In a report published Monday, Jefferies & Company reiterated its Buy rating on Dana Holding Corporation (NYSE: DAN), but lowered its price target from $20.00 to $16.00.
Jefferies noted, “DAN shares fell 2.5% (vs. a flat S&P 500) after missing 3Q consensus by 18%. Half the miss was a higher tax rate; the EBITDA miss was a more modest $0.01. Mgmt lowered its 4Q outlook on CV, but offset this with share repurchases of up to $250mn (13% of the mkt cap). We think the stock has an attractive risk/reward into very low expectations. We lower PT to $16, but maintain Buy.”
Dana Holding Corporation closed on Friday at $12.88.
Latest Ratings for DAN
|Feb 2016||Deutsche Bank||Maintains||Hold|
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