UPDATE: Goldman Sachs Removes Delphi Automotive PLC (DLPH) from Conviction Buy List
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(Updated - June 6, 2016 9:29 AM EDT)
Goldman Sachs downgraded Delphi Automotive PLC (NYSE: DLPH) from Conviction Buy to Buy with a price target of $94 (from $103). Analyst Patrick Archambault continues to see Delphi as a compelling secular growth story.
"While we continue to believe in the company’s secular content growth opportunity and further believe the unsynchronized global auto cycle provides a back-drop where regionally diversified auto suppliers like Delphi can drive solid top line and earnings growth, we believe the choppier start of the year for monthly US auto sales pace combined with investor positioning drove the underperformance in shares relative to both the S&P 500 and our overall Auto coverage," said Archambault.
Shares of Delphi Automotive PLC closed at $67.07 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change, Downgrades
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