Morgan Stanley lowered the firm’s price target on Adient to $35 from $38 and keeps an Underweight rating on the shares. The firm said that Q3 U.S. supplier results were largely in-line but triggered some volatile stock reactions. While investors hit the exits on EV-exposed names, the firm sees value emerging in the ICE-exposed lineup.
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Read More on ADNT:
- Adient price target lowered to $47 from $52 at Barclays
- Adient falls -13.6%
- Adient sees FY24 revenue $15.6B-$15.7B, consensus $15.43B
- Adient reports Q4 adjusted EPS 51c, consensus 59c
- Adient reports fourth quarter and full-year 2023 financial results; successfully delivers on the company’s FY2023 financial commitments
