Goldman Sachs Boosts Price Target On ArvinMeritor (ARM) to $14
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Goldman Sachs raised their estimates and price target on ArvinMeritor, Inc. (NYSE: ARM) from $11 to $14, following better than expected Q4 results. The firm cited, "better cost performance than we had modeled, and (2) incremental operating leverage from a better top line driven by higher content growth in NA and European commercial vehicles as well as by slightly better growth in emerging markets."
Goldman revised 2010/2011/2012 estimates to $0.27/$1.39/$2.03 from $0.41/$1.22/$1.79.
Shares of ARM closed at $9 yesterday, providing 56% upside to the firm's new price target.
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