Berenberg Starts Delphi Automotive PLC (DLPH) at Hold

Berenberg initiates coverage on Delphi Automotive PLC (NYSE: DLPH) with a Hold rating and a price target of $70.00.

Analyst Fei Teng commented, "We initiate with a Hold rating and price target of $70: Delphi is successfully repositioning itself into a high growth, high margin business through M&A and cost optimisation, and stands as one of the best quality businesses within its peer group. Its growth profile, margin resilience and best-in-class cash generation supports our constructive view of the company, but we also see downside risk to growth and pricing in its Powertrain division. On balance, we see Delphi as a high quality business with resilience to a volume downturn, but are wary of incremental political risk around emissions legislation and potential trade barriers with Mexico following the US election results."

For an analyst ratings summary and ratings history on Delphi Automotive PLC click here. For more ratings news on Delphi Automotive PLC click here.

Shares of Delphi Automotive PLC closed at $68.67 yesterday.

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