Market Overview

Piper Jaffray Maintains CAAS Rating; Raises PT From $15 To $16

Share:

Piper Jaffray is maintaining its Neutral rating on China Automotive Systems, Inc. (NASDAQ: CAAS).

“But we note that CAAS could offer an interesting trade heading into Q4 results,” Piper Jaffray writes. “After the Chinese passenger vehicle market posted record sales in November, we now believe that Q4 estimates are too low for CAAS.”

Piper Jaffray has raised its Q4 revenue and EPS estimates to $96.4m and $0.31, respectively, both of which exceed consensus by a wide margin.

“CAAS's valuation - while still high compared to peers (hence our Neutral rating) - is lower now than at any point over the past year,” Piper Jaffray concludes, noting that its price target has moved up to $16 (from $15).

China Automotive Systems closed Friday at $14.63.

Posted-In: China Automotive Systems Piper JaffrayAnalyst Ratings

 

Related Articles (CAAS)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
WSOBairdMaintains175.0
CLBCitigroupMaintains44.0
WNSBairdMaintains68.0
TXTBairdMaintains58.0
BHGECitigroupMaintains31.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

American Vanguard Acquires Major Insecticides from Bayer CropScience

Citi Sees Long-Term Opportunities for Precision Castparts Corp.