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UPDATE: Deutsche Bank Lowers PT on TRW Automotive on Valuation

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In a report published Wednesday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on TRW Automotive Holdings Corp. (NYSE: TRW), but lowered the price target from $83.00 to $82.00.

In the report, Deutsche Bank noted, “TRW reported Q1'14 EPS of $1.81 vs. our $1.59 est and consensus of $1.64. Higher operating income drove $0.11 of the upside, while below the line items (interest, taxes and share count) added $0.11. The operating upside in the quarter appears to have been driven by higher revenue. Incremental margins were a bit low (around 15%) vs. historical levels (earnings were dragged down by $22 MM from Engineering Investments, adverse FX transactional impacts, and higher D&A). The company slightly increased its FY14 revenue guidance to $17.4bn to $17.7bn vs. the company's prior guidance of $17.3bn to $17.6bn. We are maintaining our Hold rec. based on valuation.”

TRW Automotive Holdings Corp. closed on Tuesday at $80.64.

Posted-In: Deutsche Bank Greg PooleAnalyst Color Price Target Analyst Ratings


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