FBR Boosts Target On Tower Int'l To $40, Cites Recovery Within New Vehicle Production Market
In a research note released Wednesday, FBR & Co. analyst Christopher Van Horn increased his price target from $33.0 to $40.0 on Tower International, Inc. (NASDAQ: TOWR).
The analyst stated the he has raised his target primarily on the basis that the company is well positioned to take advantage of the recovery within the new vehicle production market.
He continued by stating that improvements in the European markets will translate into improved margins for TOWR as we head into 2015.
The company's top line should be helped by the company's recent additional sales in vehicles and its recent ability to outsource some of its production capabilities, according to Van Horn.
These improvements should position TOWR at a valuation closer to its peers.
Latest Ratings for TOWR
|Jul 2015||Sterne Agee CRT||Initiates Coverage on||Buy|
|May 2015||JP Morgan||Maintains||Neutral|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.