Dana price target lowered to $15 from $19 at RBC Capital

RBC Capital analyst Tom Narayan lowered the firm’s price target on Dana to $15 from $19 and keeps a Sector Perform rating on the shares. The company’s guidance implies a very healthy incremental margin on its traditional organic business, and many investors have likley misunderstand the company’s non-autos exposure, particularly as it relates to EVs, the analyst tells investors in a research note. RBC adds however that while the stock may look “very attractive” on sum-of-parts basis, given the unlikely monetization event, it is applying a conglomerate discount in its valuation.