UPDATE: Susquehanna Financial Group Initiates Coverage On Delphi Automotive
Susquehanna Financial Group initiated coverage on Delphi Automotive PLC (NYSE: DLPH) Monday with a Positive rating and $76 price target.
Analyst Matthew Stover noted that "while the valuation of the stock is “cheap” per say, we do believe the company's high returns, flexible cost structure (allowing better than average predictability), and improving growth profile augur for an even higher valuation framework going forward."
Stover felt that the company has a "shareholder friendly capital allocation strategy" with a "strong balance sheet and cash flow characteristics" which suggested "the company can continue to return capital to shareholders in the form of share repurchase and dividend as well as pursue M&A."
According to the report, key catalysts included "1) further actions on share repurchase; 2) M&A - accretive acquisitions and sale of Thermal; 3) EPS results for Europe and U.S. light vehicle markets."
Delphi Automotive PLC closed at $63.51 Monday.
Latest Ratings for DLPH
Oct 2014 | Susquehanna | Initiates Coverage on | Positive | |
Oct 2014 | Deutsche Bank | Maintains | Buy | |
Oct 2014 | Citigroup | Maintains | Buy |
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