UPDATE: Deutsche Bank Lowers PT on TRW Automotive Following Management Meetings
In a report published Thursday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on TRW Automotive Holdings Corp. (NYSE: TRW), but lowered the price target from $72.00 to $67.00.
In the report, Poole noted, “We met with management of TRW Automotive in New York - Management's tone was optimistic on the near-term prospects for N.A. and Asia, but somewhat cautious on the near-term outlook for European production. Mgmt. shares our concern that Europe production could have downside unless demand improves (ie. Q1 production is -13%; full year expectations of -5% incorporate some improvement in the SAAR from Jan/Feb levels). We maintain our Buy rating based on valuation.”
TRW Automotive Holdings Corp. closed on Wednesday at $55.71.
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