UPDATE: Susquehanna Financial Group Initiates Coverage on Dana Holding Corporation with Neutral Rating, $19 PT on Near-Term Weakness

In a report published Tuesday, Susquehanna Financial Group analyst Matthew Stover initiated coverage on

with a Neutral rating and $19.00 price target. In the report, Susquehanna Financial Group noted, “Dana Corporation is undoubtedly a cheap stock. The company has solid positions in the global vehicle driveline market but struggles to find a credible ‘growth' narrative. The balance sheet is solid and the company is generating solid cash flow. This should enable further share repurchase and M&A. All attractive attributes. However, over the near term, DAN is the company in our universe most exposed to weakening global industrial markets (~46% sales). Markets tend to shoot first and ask questions later. Unfortunately, we see further downside in the shares as automotive investors seek to reduce exposure to these end markets.” Dana Holding Corporation closed on Monday at $17.50.