Adient price target lowered to $31 from $32 at JPMorgan

JPMorgan analyst Ryan Brinkman lowered the firm’s price target on Adient to $31 from $32 and keeps a Neutral rating on the shares. The firm previewed the Q2 auto parts supplier earnings by negatively revising estimates to below consensus to reflect lower than expected global light vehicle production in comparison to expectations at the start of the quarter. After cutting Q2 EBITDA estimates 5% and earnings by 9%, JPMorgan is positioned 3% below the Street on EBITDA and 4% on earnings.