This Analyst Sees Less Than 1% Upside Remaining In Cooper-Standard Shares

Buckingham Research downgraded Cooper-Standard Holdings Inc CPS to Neutral from Buy as it believes the near-term risk/reward is now fairly balanced.

Meanwhile, the brokerage's new $105 price target (from $101), implies just about 1 percent upside.

"While we continue to believe the company is in the early stages of its operational turnaround with still more benefits to come, the shares have dramatically outperformed those of its peers since our initiation, with the valuation gap versus the group (on 2016 earnings estimates) having narrowed significantly," analyst Glenn Chin wrote in a note.

Moreover, the analyst also has reservations about third and fourth quarter results given production volumes for the Ford F-Series, its most important platform, are expected to be down 20.6 percent and 15.5 percent, respectively.

"Not that we necessarily see risk of an earnings miss, but merely that because of that headwind, the huge earnings beats that investors have come to expect, may not materialize in these quarters," Chin added.

At time of writing, shares of Cooper-Standard fell 3 percent to $100.71.