Goldman Sachs Downgrades Meritor (MTOR) to Neutral

Goldman Sachs downgraded Meritor (NYSE: MTOR) from Buy to Neutral with a price target of $15.00 (from $14.00).

Analyst Patrick Archambault said, "MTOR outperformed the group on the back of a strong North America Class 8 tractor replacement cycle, operational execution towards its M2016 strategic plan, along with the ETN settlement. However, with only 6% upside to our updated price target, we believe investors have priced in the majority of the company’s M2016 plan."

For an analyst ratings summary and ratings history on Meritor click here. For more ratings news on Meritor click here.

Shares of Meritor closed at $14.14 yesterday.

You May Also Be Interested In

• HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
• L'Oreal SA (OR:FP) (LRLCY) PT Raised to EUR480 at Barclays
• Westamerica Bancorp (WABC) PT Lowered to $50 at Piper Sandler