Bank of America Reiterates Buy on Delphi Automotive after Detroit Auto Show Presentation

Bank of America has published a research report on Delphi Automotive

commenting on the company's presentation at the 2012 Detroit Auto Show. In the report, Bank of America writes, "In our view, Delphi has many attractive attributes, including a strong balance sheet and solid growth opportunities across each of its four primary business segments, that combined should drive shareholder value. In addition, the company maintains a low cost geographic footprint and perhaps one of the most flexible and cost effective labor forces in the industry. In short, we view Delphi as one of the stronger automotive suppliers in our coverage universe and expect the company to benefit from the continued shift by OEMs towards fewer, large, diversified, and well capitalized partners in the supply base." Bank of America reiterates its Buy rating and $39 price objective on Delphi Automotive, which is currently trading flat at yesterday's $23.83 closing price.