Adient downgraded to Neutral at BofA ahead of ‘flat to down’ FY25

As previously reported, BofA downgraded Adient (ADNT) to Neutral from Buy with a price target of $24, down from $30, based on a lack of near-term catalysts as well as operating results “pointing flat to down” in FY25. The soft FY25 outlook may be made worse by Adient’s large exposure to automakers whose production volumes will likely remain under pressure, the analyst tells investors.