JPMorgan analyst Ryan Brinkman lowered the firm’s price target on Gentherm to $56 from $60 and keeps an Underweight rating on the shares. The firm previewed the Q2 auto parts supplier earnings by negatively revising estimates to below consensus to reflect lower than expected global light vehicle production in comparison to expectations at the start of the quarter. After cutting Q2 EBITDA estimates 5% and earnings by 9%, JPMorgan is positioned 3% below the Street on EBITDA and 4% on earnings.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on THRM:
- Gentherm to Participate in J.P. Morgan Auto Conference
- Gentherm price target lowered to $60 from $65 at Baird
- Gentherm Announces Date for 2024 Second Quarter Results News Release and Conference Call
- Gentherm Named 2024 Top North American Supplier by Honda
- Cognizant, Gentherm sign agreement for strategic engineering services