Adient falls after Wells Fargo cuts rating on EU market weakness

Adient

16/12/2024 17:26

** Car seat maker Adient's shares  ADNT.N  fall 3.3% to
$18.34
    ** Wells Fargo downgrades rating to "equal weight" from
"overweight", cuts PT to $20 from $27
    ** Says co's near-term growth looks challenged with a weak
Europe, "the region where ADNT is most pressured"
    ** "However, we are optimistic on margin recoveries into the
future as Americas margins improve and EU margins recover" -
brokerage
    ** One brokerage rates the stock "buy", eight "hold" and two
"sell"; their median PT is $24
    ** Up to Friday's close, stock had fallen 49.5% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))