Dana price target raised to $10 from $7 at Wells Fargo

Wells Fargo raised the firm’s price target on Dana (DAN) to $10 from $7 and keeps an Underweight rating on the shares. The firm is also updating 2024-2028 estimates to reflect lower global LVP. Wells is now about 4% below consensus sales and about 6% below consensus on EBIT/DA. After a challenging 2024, 2025 looks much the same with four main challenges, the firm says. First, tariff challenges could impact U.S. suppliers who source from within North America. Second, Wells forecasts -2% LVP. Suppliers are also likely hurt by overexposure to D3 in North America and underexposure to locals in China. Finally, commercial truck and off-highway weakness persists.