APTV - J.P. Morgan auto supplier update lifts Lear Adient; Gentherm sinks on downgrade
Automotive industry suppliers are on the move today after J.P. Morgan issues upgrades and downgrades for members in the group. Gentherm (THRM) is 4.2% lower as the firm cuts it to Underweight from Neutral. It's updated its price target to $60, now implying 11% downside. Visteon (VC) is also down 1.6% as it gets a cut to Underweight; its updated price target of $113 implies 19% downside. Aptiv (APTV) also gets a cut, to Neutral from Overweight. It's off 0.8% today; the firm's $134 target implies 6% downside. J.P. Morgan's biggest positive change is for Lear (LEA), upgraded to Overweight from Neutral. Shares are up 0.4%. And Adient (ADNT) is upgraded to Neutral from Underweight. Shares are down 0.9% today to $34.95; that's a near match for the firm's price target of $35.
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J.P. Morgan auto supplier update lifts Lear, Adient; Gentherm sinks on downgrade