Bank of America Merrill Lynch downgraded Visteon VC from Buy to Neutral in a research report published today. Bank of America Merrill Lynch has a $50 Price Objective ("PO") on the company.
In the report, Bank of America Merrill Lynch BAC stated, "We believe investors are becoming increasingly concerned by VC's financial
reporting, which we think makes comparison to prior results and forecasts challenging. Furthermore, the company's lack of explicit actionable strategic roadmap is we think adding to investor concerns. While we believe VC may ultimately drive shareholder value by executing strategic actions (ie the purchase of Halla's 30% stub), similar discussions have been underway for over a decade with only small progress."
Shares of Visteon closed down 2.77% from Wednesday's market close and are down 2.22% YTD.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in