Morgan Stanley analyst Adam Jonas raised the firm’s price target on Adient to $29 from $27 and keeps an Underweight rating on the shares as he updated his model following fiscal Q4 earnings and the initial FY23 guidance. While noting that Adient announced a $600M share repurchase program that was met with positive reception by investors, he is not yet ready to model any buybacks as the company still has a sizable debt maturity due August of 2024, Jonas said.
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