As previously reported, BofA downgraded Adient (ADNT) to Underperform from Neutral with a price target of $18, down from $24, after the firm lowered its North American auto production estimate to 16.1M from 16.7M to reflect plant downtime and a material increase in Chinese imports to Mexico. Continued challenges resulted in the company revising its expectations for FY25 lower, driven by weaker production volumes in Europe and China, the “company’s crown jewel,” the analyst tells investors.
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Read More on ADNT:
- Adient downgraded to Underperform from Neutral at BofA
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