Jefferies Starts Harmon International (HAR) at Underperform
Get Alerts HAR Hot Sheet
Rating Summary:
4 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Jefferies initiates coverage on Harmon International (NYSE: HAR) with a Underperform rating and a price target of $90.00.
Analyst Dan Dolev commented, "After years of rapid growth in embedded infotainment, the proliferation of ~75% cheaper display alternatives can drive a double whammy of lower GM and need to boost R&D spend (-340bps since '10) in order to maintain a competitive edge. Maturing navigation take rates and slowest backlog growth in 5 years suggest the trend may have already begun. We see -9% downside to FY17 cons., which unlikely fully reflects China/VW uncertainty. Underperform. PT $90"
For an analyst ratings summary and ratings history on Harmon International click here. For more ratings news on Harmon International click here.
Shares of Harmon International closed at $104.25 yesterday.
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