Barclays analyst Dan Levy lowered the firm’s price target on Adient to $47 from $52 and keeps an Overweight rating on the shares. The company’s fiscal Q4 beat was overshadowed by soft 2024 guidance and a CEO transition, the analyst tells investors in a research note. The firm says the guidance may be conservative, but currency needs to be monitored.
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Read More on ADNT:
- Adient falls -13.6%
- Adient sees FY24 revenue $15.6B-$15.7B, consensus $15.43B
- Adient reports Q4 adjusted EPS 51c, consensus 59c
- Adient reports fourth quarter and full-year 2023 financial results; successfully delivers on the company’s FY2023 financial commitments
- Adient CEO Doug Del Grosso to retire, Jerome Dorlack to succeed
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