UBS Trims Estimates on Visteon (VC) After Small Q4 Miss, But Lifts Price Target
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Price: $108.22 +0.91%
Rating Summary:
21 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
21 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS lowered estimates but raised its price target on Buy-rated Visteon (NYSE: VC) from $68 to $72 following a small Q4 miss and soft 1st-half guidance. The firm maintained a Buy rating.
The firm notes Q4 adjusted EPS was ~$0.77 ex one time items, just below consensus of $0.79. Adjusted EBITDA was $154m, slightly below our $160m estimate. Importantly, Climate and Electronics margins beat our estimates. VC maintained 2012 sales and EBITDA guidance as well as its double digit adjusted EBITDA margin targets for 2014.
"We remain bullish on VC's compelling SOTPs valuation," the analyst said.
The firm lowered 2012 estimate from $4.10 to $3.90. Our adjusted 2012 EBITDA estimate of $686m is at the high end of management's $650m-$690m guidance.
For an analyst ratings summary and ratings history on Visteon click here. For more ratings news on Visteon click here.
Shares of Visteon closed at $53.56 yesterday.
The firm notes Q4 adjusted EPS was ~$0.77 ex one time items, just below consensus of $0.79. Adjusted EBITDA was $154m, slightly below our $160m estimate. Importantly, Climate and Electronics margins beat our estimates. VC maintained 2012 sales and EBITDA guidance as well as its double digit adjusted EBITDA margin targets for 2014.
"We remain bullish on VC's compelling SOTPs valuation," the analyst said.
The firm lowered 2012 estimate from $4.10 to $3.90. Our adjusted 2012 EBITDA estimate of $686m is at the high end of management's $650m-$690m guidance.
For an analyst ratings summary and ratings history on Visteon click here. For more ratings news on Visteon click here.
Shares of Visteon closed at $53.56 yesterday.
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