Deutsche Bank Ups Auto Suppliers
In a note released Friday, Deutsche Bank analyst Rod Lache boosted his price targets on auto suppliers across the board, saying that "Given the macro risks, we continue to believe that investors should focus on suppliers that offer secular (above market) growth opportunities, as these companies are now on sale."
His top pick remains Delphi Automotive (NASDAQ: DLPH), trading at 9.4x its 2016 estimate. He also feels BorgWarner (NYSE: BWA) has become attractive on a valuation basis for a company that should remain one of the largest beneficiaries of increasingly fuel efficiency standards.
Key Changes: Company Target and Price Ratings
American Axle & Manufacturing (NYSE: AXL) - $21.00 to $25.00 - Buy
Autoliv (NYSE: ALV) - $90.00 to $95.00 - Hold
BorgWarner - $63.00 to $69.00 - Hold to Buy
Dana Corporation (NYSE: DAN) - $25.00 to $26.00 - Hold
Delphi - $90.00 to $92.00 - Buy
Lear Corporation (NYSE: LEA) - $103.00 to $104.00 - Hold
Magna International (NYSE: MGA) - $102.00 to $112.00 - Hold
Tenneco (NYSE: TEN) - $67.00 to $69.00 - Hold
Latest Ratings for ALV
Date | Firm | Action | From | To |
---|---|---|---|---|
Apr 2021 | Berenberg | Initiates Coverage On | Hold | |
Mar 2021 | Wells Fargo | Initiates Coverage On | Equal-Weight | |
Feb 2021 | Citigroup | Maintains | Neutral |
View More Analyst Ratings for ALV
View the Latest Analyst Ratings
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