Morgan Stanley lowered the firm’s price target on Adient to $32 from $35 and keeps an Underweight rating on the shares. The firm, which refreshed all its auto supplier models, continues to prefer exposure to ICE and hybrid-exposed names or powertrain agnostic players as suppliers “muddle through an adjustment of programs and adapt capex plans as OEM EV strategies hit the brakes,” the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADNT:
- Adient price target lowered to $34 from $37 at Barclays
- Adient price target lowered to $30 from $32 at Deutsche Bank
- Adient cuts FY24 revenue view to $14.8B-$14.9B from $15.4B-$15.5B
- Adient reports Q1 adjusted EPS 54c, consensus 42c
- Adient reports strong Q2 financial results; provides update to FY24 outlook