Deutsche Bank analyst Edison Yu maintains $Aptiv PLC (APTV.US)$ with a hold rating, and adjusts the target price from $74 to $66.
According to TipRanks data, the analyst has a success rate of 29.3% and a total average return of -13.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Aptiv PLC (APTV.US)$'s main analysts recently are as follows:
The analyst notes that Aptiv's macroeconomic challenges are expected to continue up to 2025, but believes that the recent 18% drop in the company's shares may be an overreaction. They highlight Aptiv's potential for secular growth within its ASUX division and suggest that, despite potential macroeconomic risks in 2025, the anticipated electric vehicle recovery should provide a significant counterbalance.
Aptiv's third-quarter results were a blend of strengths and weaknesses, and forecasts for FY24 were adjusted modestly downwards, mirroring a conservative outlook for the industry. However, the company's management emphasized the uncertainty for FY25 and the adjustments in OEM production schedules. Despite the challenges faced by numerous clients, such as competitive pricing pressures and slow electric vehicle sales, the recent significant drop in stock value following these announcements appears to be an overreaction.
Aptiv's third-quarter EBIT fell short of consensus estimates by 2%, and the company's management revised its full-year 2024 sales and EBIT guidance downwards by 2% and 3%, respectively.
Note:
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