RESEARCH ALERT-Prudential cuts Dana's price target

Newswire

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 ...

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