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Credit Suisse Sees Antaya Acquisition As Small But Valuable For Delphi Automotive PLC

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In a report published Wednesday, Credit Suisse analyst Daniel Galves reiterated an Outperform rating and $83.00 price target on Delphi Automotive PLC (NYSE: DLPH).

In the report, Credit Suisse noted, “Delphi announced Monday it had signed a definitive agreement to acquire Antaya Technologies, the leading NA supplier of on-glass connectors. Based on our conversations, this is a niche transaction for DLPH. Antaya generates ~$50 mln in FY revenues, with op margins slightly above DLPH's connectors biz (i.e. >20%). However, the on-glass connectors market is a fast-growing space, with Antaya projected to grow sales by 15%-20% per yr. Furthermore, this deal broadens DLPH's NA connectors portfolio and allows it to leverage Antaya's expertise in markets outside NA.”

Delphi Automotive PLC closed on Tuesday at $64.31.

Latest Ratings for DLPH

DateFirmActionFromTo
Sep 2019MaintainsNeutral
Jun 2019Initiates Coverage OnNeutral
Jun 2019UpgradesNeutralBuy

View More Analyst Ratings for DLPH
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Posted-In: Credit Suisse Daniel GalvesAnalyst Color Reiteration Analyst Ratings

 

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ALDRCanaccord GenuityDowngrades20.0
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