Benchmark analyst Michael Ward raised the firm’s price target on Adient to $60 from $48 and keeps a Buy rating on the shares after the company reported fiscal Q1 results and pointed to easing of inflationary cost and exchange headwinds, which the firm believes should reduce risk in commercial negotiations with vehicle manufacturers. The firm says its Buy rating on the shares is supported by valuation, a recovery in global auto production, cash returns to shareholders and balance sheet improvement.
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