equitieswatch
Tuesday, February 7, 2023
About us
Advertise
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities
No Result
View All Result
Equitieswatch.com
No Result
View All Result

BNP initiates coverage on auto supplier stocks (NASDAQ:GT)

by equitieswatch
April 11, 2022
in Finance

Auto supplier stocks rose on Monday after ratings initiation by Exane BNP Paribas.

In a report released today, BNP analysts began coverage on Goodyear Tire & Rubber (NASDAQ:GT), Adient (NYSE:ADNT) and American Axle & Manufacturing (NYSE:AXL), with a Neutral rating.

The price target on Goodyear (GT) was set to $12, implying a 7.4% decrease from last price. Analysts noted “Commodities are a headwind for GT, and while we believe there will be sufficient pricing, we remain on the sidelines until raw materials begin to deflate, leading to rapid margin expansion as pricing remains.”

The price target on Adient (ADNT) was set to $32, implying a 4.3% decrease from last price. “We view ADNT as a cyclical pure play, with minimal secular exposure (as a positive or negative), so we await more stable macro environment.”

American Axle, meanwhile, has been assigned a $7 PT that implies a 1.2% increase from last price. Recently, Citi lowered PT on the stock, from $9 from $8, citing softer 2022 auto production outlook, incremental inflation and FX changes.

Earlier today, the automobile driveline and drivetrain maker announced acquisition of Tekfor Group for €125M. BNP sees “a minor laggard in the transition to electrification among powertrain suppliers.”

Source link

YOU MAY ALSO LIKE

The U.S. is hurtling toward a recession. Here’s the best-case scenario for how it could play out—and the worst

Bitcoin Breaches $20,000 for the First Time Since 2020

ShareTweetPin

Search

No Result
View All Result

Recent News

Oil slips further on demand, financial market worries By Reuters

Oil Sinks Further Amid China Concerns, Weakened Economic Prospects By Investing.com

October 25, 2022
Gold Up, Set for Second Weekly Gain as Dollar Falls from 20-Year High By Investing.com

Gold Pressured Near $1,650, Copper Muted on Economic Fears By Investing.com

October 25, 2022
Explainer-What would be the impact of Russian oil sanctions in Europe? By Reuters

Oil prices edge higher as U.S. dollar eases By Reuters

October 25, 2022
Equitieswatch.com

Equitieswatch.com is your Stock Market, Finance, Forex, Cryptocurrency, Business, NFT News Website. We provide you with the latest breaking news and videos straight from the Business industry.

  • Home
  • About us
  • Contact
  • Privacy Policy

© 2022 www.equitieswatch.com

No Result
View All Result
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities

© 2022 www.equitieswatch.com