Market Overview

Deutsche Bank Ups Auto Suppliers

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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

DateFirmActionFromTo
Jul 2019MaintainsNeutral
Jul 2019MaintainsUnderperform
Jul 2019MaintainsNeutral

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Posted-In: News Price Target Analyst Ratings

 

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