UBS on U.S. Auto Parts/Suppliers: Cautious on Q2; Lowering FY12 Estimates
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Up: 11 | Down: 18 | New: 13
Rating Summary:
7 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
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UBS on U.S. Auto Parts/Suppliers: Cautious on Q2; Lowering FY12 Estimates
Analyst, Colin Langan, said, "Going into Q2, we are bullish on Dana (NYSE: DAN) (+$0.03); below consensus for BorgWarner (NYSE: BWA) (-$0.03), Lear (NYSE: LEA) (-$0.09) and VC (-$0.28); and in-line for MTOR (-$0.01) and JCI (+$0.01). While the weakness in Q2 Europe production seems already priced in the stocks, we see BWA’s full year guidance most at risk. LEA’s full year guidance seems achievable; however, we expect better entry points post Q2. Overall, we expect the suppliers provide a more cautious outlook."
"We lowered our 2012E EPS for VC (-$0.30), LEA (-$0.20), DAN (-$0.10), BWA (-$0.10), Johnson Controls (NYSE: JCI) (-$0.03), and Meritor (Nasdaq: MTOR) (-$0.03) to reflect weaker European production (-7% vs. -4% earlier)."
Langan reiterates a Buy rating on DAN, LEA & VC. Neutral rating for BWA, JCI & MTOR.
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Analyst, Colin Langan, said, "Going into Q2, we are bullish on Dana (NYSE: DAN) (+$0.03); below consensus for BorgWarner (NYSE: BWA) (-$0.03), Lear (NYSE: LEA) (-$0.09) and VC (-$0.28); and in-line for MTOR (-$0.01) and JCI (+$0.01). While the weakness in Q2 Europe production seems already priced in the stocks, we see BWA’s full year guidance most at risk. LEA’s full year guidance seems achievable; however, we expect better entry points post Q2. Overall, we expect the suppliers provide a more cautious outlook."
"We lowered our 2012E EPS for VC (-$0.30), LEA (-$0.20), DAN (-$0.10), BWA (-$0.10), Johnson Controls (NYSE: JCI) (-$0.03), and Meritor (Nasdaq: MTOR) (-$0.03) to reflect weaker European production (-7% vs. -4% earlier)."
Langan reiterates a Buy rating on DAN, LEA & VC. Neutral rating for BWA, JCI & MTOR.
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