Dana price target lowered to $7 from $9 at Wells Fargo

Wells Fargo lowered the firm’s price target on Dana (DAN) to $7 from $9 and keeps an Underweight rating on the shares. The firm notes shares traded down after a 5% adjusted EBITDA guide cut. Dana would not comment on media reports of a possible Off-Highway spin, likely raising concerns the company could sell its most profitable asset due to challenges in its business, Wells adds.