Dana Holding (DAN) PT Raised to $22 at UBS

UBS analyst Joseph Spak raised the price target on Dana Holding (NYSE: DAN) to $22.00 (from $20.00) while maintaining a Buy rating.

The analyst commented, "The story though shifts from post the major catalyst of the deal announcement to one of further margin drivers and potential re-rating. We do raise our 2026E+ numbers seeing path to RemainCo 10-10.5% margins with our 2026 PF RemainCo EBITDA forecast of $770mm +11% vs. prior. While we are not raising our multiple, we do see the potential for a re-rate given announced capital returns (through 2027E), and more margin upside potential leading to improved FCF profile and more consistent capital returns (beyond what has been announced)."

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