CRT Capital Reiterates a 'Buy' on Visteon (VC); Raising Estimates & PT After Strong Qtr
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Price: $107.80 --0%
Rating Summary:
21 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 10 | New: 23
Rating Summary:
21 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 10 | New: 23
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CRT Capital reiterates a 'Buy' on Visteon (NYSE: VC) price target raised from $76 to $83.
CRT analyst said, "VC’s 3Q11 results exceeded our expectations...We are revising our estimate to reflect: (1) the Company’s 3Q11 results and management’s most recent guidance, (2) the deconsolidation of Duckyang (which we estimate generates annualized revenue of approximately $575 million), and (3) our most recent industry production estimates (which reflect a more gradual increase in industry production volumes than our earlier estimates). The changes do not have a material impact on our 2011 estimates, but result in a reduction of our consolidated EBITDA estimates for 2012 and 2013 of 6% and 3%, respectively, and net income from affiliates for 2012 and 2013 of 11% and 13%, respectively." (CRT now sees FY11-13 EPS estimate at $3.72, $4.17, and $4.92)
For more ratings news on Visteon click here and for the rating history of Visteon click here.
Shares of Visteon closed at $57.62 yesterday.
CRT analyst said, "VC’s 3Q11 results exceeded our expectations...We are revising our estimate to reflect: (1) the Company’s 3Q11 results and management’s most recent guidance, (2) the deconsolidation of Duckyang (which we estimate generates annualized revenue of approximately $575 million), and (3) our most recent industry production estimates (which reflect a more gradual increase in industry production volumes than our earlier estimates). The changes do not have a material impact on our 2011 estimates, but result in a reduction of our consolidated EBITDA estimates for 2012 and 2013 of 6% and 3%, respectively, and net income from affiliates for 2012 and 2013 of 11% and 13%, respectively." (CRT now sees FY11-13 EPS estimate at $3.72, $4.17, and $4.92)
For more ratings news on Visteon click here and for the rating history of Visteon click here.
Shares of Visteon closed at $57.62 yesterday.
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