BTIG Downgrades Visteon (VC) to Neutral; Disappointing EBTIDA guidance
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Price: $109.66 -1.33%
Rating Summary:
20 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
20 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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BTIG downgraded Visteon (NYSE: VC) from Buy to Neutral.
BTIG analyst says, "We are downgrading our recommendation on Visteon based upon the company’s disappointing EBITDA and margin guidance for 2011 coupled with a lack of visibility into how the company will achieve double digit EBITDA margins in 2012 and beyond."
"While we believe that Visteon’s estimate of $7.3B billion to $7.5 billion of revenue for 2011 was in line with most analysts’ assumptions for 2011, the projected EBITDA range of $620 million to $660 million came as a bit of a surprise. We believe comments made at a conference back in January indicating that Visteon’s achievable goal going forward for double digit EBITDA margins made market participants believe that near double digit margins were achievable in 2011 with 10%+ margins achievable in 2012...With regards to a sum of the parts analysis, as usual things remain murky."
For more ratings news on Visteon click here and for the rating history of Visteon click here.
Shares of Visteon closed at $66.89 yesterday.
BTIG analyst says, "We are downgrading our recommendation on Visteon based upon the company’s disappointing EBITDA and margin guidance for 2011 coupled with a lack of visibility into how the company will achieve double digit EBITDA margins in 2012 and beyond."
"While we believe that Visteon’s estimate of $7.3B billion to $7.5 billion of revenue for 2011 was in line with most analysts’ assumptions for 2011, the projected EBITDA range of $620 million to $660 million came as a bit of a surprise. We believe comments made at a conference back in January indicating that Visteon’s achievable goal going forward for double digit EBITDA margins made market participants believe that near double digit margins were achievable in 2011 with 10%+ margins achievable in 2012...With regards to a sum of the parts analysis, as usual things remain murky."
For more ratings news on Visteon click here and for the rating history of Visteon click here.
Shares of Visteon closed at $66.89 yesterday.
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