APTV - Morgan Stanley cuts PT on Group 1 Automotive American Axle Adient Aptiv citing credit headwinds and slow growth
- Morgan Stanley analyst Adam Jonas lowered the firm's price target on Group 1 Automotive ( GPI ) to $142 from $160, maintains underweight rating. Check company quant rating . Stock down 2.3% for the day
- American Axle ( AXL ) price target cut to $11 from $13 and keeps an Overweight rating. Check company quant rating . Stock down 4.2% for the day
- Price Target on Adient ( ADNT ) cut to $27 From $31; maintains Underweight rating. Check company quant rating . Stock down 4.3% for the day
- Aptiv ( APTV ) price target dropped from $155.00 to $149.00. Check company quant rating . Stock down 2.4% for the day
- Analyst is making "material cuts" particularly in FY23, to reflect slowing growth and credit headwinds.
- Analyst notes that his top line and EBITDA estimate cuts leave his forecasts 5%-10% or more below consensus expectations. Mentions key drivers of the changes include a U.S. SAAR cut that takes his FY23 SAAR forecast to 15M units. Expects price/mix deterioration from peers and auto credit pressures.
-
A comparative ratings study of these stocks:
-
Price performance of the four stocks against its peers on YTD basis looks like:
For further details see:
Morgan Stanley cuts PT on Group 1 Automotive, American Axle, Adient, Aptiv, citing credit headwinds and slow growth