Jefferies is out with its report today on Dana Holding DAN, raising its PT from $20 to $23.
In a note to clients, Jefferies writes, "Our $23 target price is based on a year-end 2011 EV/EBITDA multiple of 4.5x our 2012e EBITDA estimate of $868 million. Our target multiple is lower than DAN's post-bankruptcy median of 4.7x and the 5-6x multiple more typical of our auto universe."
Jefferies reiterates Buy on DAN.
At the time of posting, shares of DAN were trading at $18.36, down 1.13% from Wednesday's close.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsAuto Parts & EquipmentConsumer DiscretionaryDana HoldingJefferies
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