UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Dana Holding Corporation
In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Dana Holding Corporation (NYSE: DAN), and raised its price target from $16.00 to $19.00.
Jefferies & Company noted, “DAN guided 2013 revenue, EBITDA, and EPS modestly below consensus, with the shortfall seemingly on a weaker CE market in Europe and South America. Even still, DAN sees industry-leading margin expansion in 2013 on heightening price/productivity. The company is also shrinking the sharecount 10%-15% while CE and CV volumes are in a cyclical lull. That sets up accelerating EPS growth in 2014 and beyond as industry volumes rebound.”
Dana Holding Corporation closed on Tuesday at $15.87.
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