Morgan Stanley Maintains Positive Outlook on Delphi Automotive PLC Despite Weak 1Q Guide

In a report published Wednesday, Morgan Stanley analyst Ravi Shanker reiterated an Overweight rating and $62.00 price target on Delphi Automotive PLC DLPH. In the report, Morgan Stanley noted, “We were surprised by how weak DLPH's 1Q guide was relative to FY expectations, driven both by IT/growth spending as well as higher D&A. In our view, DLPH still looks well set for 2014 but the slow start to the year all but takes a FY guidance raise off the table.” Delphi Automotive PLC closed on Tuesday at $60.01.