Barclays Maintains an 'Overweight' on Dana Holding (DAN); Not Immune to Thailand Floods

Barclays maintains an 'Overweight' on Dana Holding (NYSE: DAN) price target of $23.00.

Barclays analyst says, "Thailand Floods To Reduce Light Vehicle Revenue and EBITDA: Ahead of its presentation at a conference on Wednesday 11/30, Dana cut its 4Q11 guidance range due to impact from Thailand floods and FX. On the 3Q11 call (10/27), DAN guided to about ~$198mn (we were modeling $200mn vs. consensus is $196mn), but the full-year range of $755-756mn (vs. approximately $780mn previously) now implies 4Q11 EBITDA of $173-183mn...At this point, we do not see significant risk to our OW rating, especially as DAN is currently valued at only 2.8x our 2012 earnings estimates on an EV/EBITDA basis."

Barclays lowers FY11 EPS estimate from $1.66 to $1.59, maintains FY12 EPS at $1.83.

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 $12.46 yesterday.

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