Dana upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital upgraded Dana (DAN) to Outperform from Sector Perform with a price target of $20, up from $14. The firm now has increased conviction that the off-highway deal will be announced in June. Deal terms suggest upside to the shares and incremental capital return to shareholders, the analyst tells investors in a research note. RBC believes that even without a deal, Dana’s standalone fundamentals” appear misunderstood,” and the potential for an off-highway sale highlights “the company’s attractive non-autos exposure.”