NEW YORK, Oct 28 (Reuters) - Investment bank Prudential Securities said on Monday it has cut its price target for autoparts maker Dana Corp. to $8 from $14, citing revised backlog and higher offsets to restructuring savings. "Revenue analysis shows Dana grew less than its key customers' production," said Prudential in a research note. "Increased revenues accounted for most of earnings per share gain. Restructuring savings did not completely flow to bottom line." Prudential also said ...
Premium Content (PAID Subscription Required)
"RESEARCH ALERT-Prudential cuts Dana's price target" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.