Deutsche Bank Starts Harmon International (HAR) at Buy

Deutsche Bank initiated coverage on Harmon International (NYSE: HAR) with a Buy rating and a price target of $94. Analyst Patrick Nolan said valuation does not appear to reflect the company’s growth outlook.

"We believe that cockpit electronics and especially infotainment will continue to represent one of the fastest growing areas in the Automotive Industry. Invehicle technology now stands as one of the top criteria by which consumers judge a car. We estimate that 80% of vehicles produced worldwide will have some form of infotainment by early next decade, up from 47% in 2015. As a leader in infotainment and over the air connectivity technologies, Harman may be one of the best positioned to capitalize on this secular growth theme (HAR’s “Connected Car” division accounts for 45% of rev)," said Nolan.

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 $77.98 yesterday.

You May Also Be Interested In

• TD Cowen Resumes EQT Corp. (EQT) at Hold
• JMP Securities Starts The RMR Group Inc. (RMR) at Market Perform, 'Pure-Pay'
• QuantumScape (QS) PT Lowered to $6 at Truist Securities