Wells Fargo cuts PT for Dana amid UAW strikes
03/10/2023 11:34
** Wells Fargo cuts PT on auto parts supplier Dana DAN.N
to $16 from $17, maintains "equal weight"
** "DAN unfortunately supplies several of the programs
impacted by the UAW strike including the Bronco and Wrangler,
which contributes to the relative weakness" - Wells Fargo
** "For FY23, we expect DAN to guide to the lower end of the
range due to strike risks as we expect the Ford Super Duty to
eventually be a target of the UAW strikes" - Wells Fargo
** 2 of 10 brokerages rate the stock "buy" or higher, 8
"hold"; their median PT is $18
** YTD stock down 5.09%
(Reporting by Aishwarya Jain)
((Aishwarya.Jain@thomsonreuters.com))