ArvinMeritor's PT Raised After Investor Day

JP Morgan has published a research report on ArvinMeritor, Inc. ARM and has raised the price target after attending the company's investor day. In the report, JP Morgan writes "From FY09 to FY10, ARM exposure to South America grew to 30% of segment sales from 21% while exposure to N.A and Europe declined (N.A 43% vs. 39% in FY09 and Europe 36% vs. 31% in FY09). But more importantly, the mix of revenue of the CV division has become significantly better balanced (ie, historical over-reliance on Europe is no longer evident) and impressively more EM-focused." JP Morgan maintains its Neutral rating and has raised the price target from $20 to $21. ArvinMeritor, Inc. closed yesterday at $18.98.