DAN

Exane upgrades Dana to Outperform on Off-Highway segment sale

Exane BNP Paribas analyst James Picariello upgraded Dana (DAN) to Outperform from Neutral with a price target of $16, up from $9. The company’s intention to sell its higher margin Off-Highway segment “breathes entirely new life” in its ability to reset its balance sheet and focus strictly on profit and free cash flow maximization the analyst tells investors in a research note. Exane believes the sale combined with a strategic deemphasis of the electric vehicle business can “unlock substantial” free cash flow upside.

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on DAN:

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Data is currently not available

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.