UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Delphi Automotive
In a report published Monday, Credit Suisse reiterated its Outperform rating on Delphi Automotive (NYSE: DLPH), and raised its price target from $40.00 to $44.00.
Credit Suisse noted, “Despite the beat on the 3Q print, DLPH lowered full year guidance, reflecting 4Q softness. 4Q12 EPS was guided to $0.79-0.89 (ex-MVL) vs. our previous $0.96 and consensus of $0.99...despite a favorable tax rate, lower share count and favorable EUR FX in the 4Q guide. The bulk of the weakness came from deteriorating European production schedules... DLPH indicated that it is estimating 4Q EUR production to be down -15% YoY, quite a bit worse than the -10% IHS (and likely most of the sell-side) is expecting.”
Delphi Automotive closed on Friday at $32.86.
Latest Ratings for DLPH
|Dec 2016||BMO Capital||Initiates Coverage On||Outperform|
|Nov 2016||Jefferies||Initiates Coverage On||Buy|
|Nov 2016||Morgan Stanley||Downgrades||Equal-Weight||Underweight|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.