Dana upgraded to Overweight from Equal Weight at Barclays

Barclays analyst Dan Levy upgraded Dana (DAN) to Overweight from Equal Weight with a price target of $18, up from $12. Early last week Dana announced a series of significant changes, the most notable of which being confirmation of media reports that it plans to sell its Off-Highway business, the analyst tells investors in a research note. The firm says that the stock has rallied since the announcement, “there is significantly more opportunity ahead.” The news marks the return of a “special sit” opportunity in the sector, which has lacked for some time, contends Barclays. It believes a transaction could drive a “substantial value unlock.”