Deutsche Bank Updates 6/15

Deutsche Bank provided updates a number of companies in a research report published today. Dana Corporation DAN had its rating maintained at Buy and its price target was left unchanged at $22 after a meeting with the company's management. In the report, Deutsche Bank states, "Dana reiterated its FY11 targets and had a generally positive tone on the medium-term outlook. Recent axle supply issues do not appear to be impacting Dana. Dana remains optimistic for the volume outlook in both its commercial vehicle and off-highway businesses." On Tuesday, Dana added 3.37% to its value to close the day at $16.85. LifePoint Hospitals LPNT had its rating maintained at Buy. At the same time, Deutsche bank left its price target unchanged at $50. The report states, "Since the Duke JV was annc'd in Jan. 2011, LPNT has made notable progress in North Carolina w/3 annc'd deals. LPNT's recent successes from an M&A integration standpoint put the company on more solid footing in the context of an environment in which M&A is widely expected to accelerate." Allegheny Technologies ATI had its rating maintained at Hold. At the same time, Deutsche Bank left its price target unchanged at $65. The report states, "High Performance metals remains 'bright-spot' as a result of key end-markets (including aerospace and energy) and capacity constraints. In response, ATI will start-up a 4th PAM furnace in coming months. Investors are somewhat concerned with the potential for raw material inflation, but ATI appears comfortable that these pressures will be limited given l-t supply agreements this cycle." On Tuesday, Allegheny added 2.79% to its value to close the day at $61.85. Illinois Tool Works Inc. ITW had its rating maintained at Hold and its price target reiterated at $63. The report states, "Overall, management does not seem to be greatly concerned about the recent weakness in macro data. To this point, ITW was already expecting some deceleration in organic growth throughout FY11 as comps become increasingly difficult." On Tuesday, Illinois Tool Works added 1.83% to its value to close the day at $55.55. Navios Partners L.P. NMM had its rating maintained at Hold and its price target reiterated at $20. The report states, "NMM has only one charter expiry in 2012 and staggered charter expires thereafter. The fleet has an average charter length of 4.5 years with 70% of the fleet's contracts expiring over three years from now. The company maintains total unit distribution coverage of 1.2x, which provides a cushion for any intermediate-term re-chartering at levels below current rates." On Tuesday, Navios added 3% to its value to close the day at $17.85. Northrop Grumman NOC had its rating maintained at Hold and its price target reiterated at $69. The report states, "Company management continues to have realistic expectations of the defense spending backdrop and as such is talking about flat to potentially slightly down spending. That being said, management has been and will continue to be focused on getting the portfolio positioned (i.e. shipbuilding spin), getting performance up across the businesses (op mgns, RONA and cash conversion) and overall effective cash deployment." On Tuesday, Northrop added 1.48% to its value to finish the day at $64.47.