Close

UBS Cuts Price Target on Dana Holdings (DAN) as Shares Trade Down 20% Since July

November 9, 2015 10:46 AM EST
Get Alerts DAN Hot Sheet
Price: $12.70 -0.31%

Rating Summary:
    7 Buy, 14 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE

UBS maintained a Neutral rating on Dana Holding (NYSE: DAN), and cut the price target to $18.00 (from $21.00), as shares train down 20% since early July. The decline largely reflects the continued weakness in global on and off highway markets which has resulted in lower guidance. On the Q3 call, DAN highlighted that its main competitor had won some of its business. Management sees the shift as temporary until it completes its supply chain modernization restructuring.

Analyst Colin Langan commented, "DAN shares have been down over 20% since early July. The decline largely reflects the continued weakness in global on and off highway markets which has resulted in lower guidance. DAN has done an excellent job at managing margins in the face of these deteriorating markets; however, it's unclear when these market headwinds will subside. We see upside once these typically profitable markets recover; however, we remain Neutral while we wait to see signs of an inflection."

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

Shares of Dana Holding closed at $16.45 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change

Related Entities

UBS