J.P. Morgan Raises ArvinMeritor PT From $20 To $21

Following ArvinMeritor, Inc.'s ARM investor day, J.P. Morgan is raising its Dec-2011 price target of $20 to $21 based on 2012E EBITDA (using 6.5x EV/EBITDAPO multiple) and reiterate its Neutral rating with a positive bias. ArvinMeritor closed Tuesday at $18.98.