Morgan Stanley analyst Adam Jonas raised the firm’s price target on Adient to $29 from $27 and keeps an Underweight rating on the shares as he updated his model following fiscal Q4 earnings and the initial FY23 guidance. While noting that Adient announced a $600M share repurchase program that was met with positive reception by investors, he is not yet ready to model any buybacks as the company still has a sizable debt maturity due August of 2024, Jonas said.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on ADNT:
