RESEARCH ALERT-UBS cuts auto suppliers profit forecast

Newswire

NEW YORK, Dec 27 (Reuters) - UBS Warburg on Friday said analyst Rob Hinchliffe cut his 2003 earnings forecasts for three automotive suppliers, citing declining vehicle sales and likely production cuts in the Big 3: General Motors, Ford and DaimlerChrysler. Hinchliffe cut his 2003 earnings-per-share view for Lear Corp. to $4.65 from $4.85, for Dana Corp. to $1.25 from $1.50, and for American Axle & Manufacturing Holdings Inc. to $3.30 from $3.45, UBS said. Shares of Lear closed at ...

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