UPDATE: Goldman Sachs Upgrades Cooper-Standard Holdings Inc. (CPS) to Buy
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
(Updated - November 22, 2016 9:01 AM EST)
Goldman Sachs upgraded Cooper-Standard Holdings Inc. (NYSE: CPS) from Neutral to Buy with a price target of $100, implying 7% upside. Analyst David Tamberrino highlighted operating improvements and footprint restructuring.
Tamberrino said, "While shares have been resilient in the year-to-date period (+19% vs. the S&P 500 +7% and our Auto coverage average -10%), we expect CPS to outperform peers as incremental footprint restructuring activities, further operational improvement, and significant growth in China drive incremental margin expansion late cycle. When combined with pricing power on new products set to launch in the 2018+ timeframe, we do not expect CPS margins to peak in the near-term. Overall our 2016 and 2017 EBITDA estimates are an average 4% above the Street."
Shares of Cooper-Standard Holdings Inc. closed at $93.05 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Union Pacific (UNP) PT Raised to $120 at Aegis Capital Following Solid 4Q
- JPMorgan Downgrades Endo International plc (ENDP) to Neutral
- Checkpoint Software (CHKP) PT Raised to $94 at Stifel Following 4Q Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Upgrades
Related EntitiesGoldman Sachs, Standard & Poor's
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!