Adient initiated with a Neutral at Citi

Citi initiated coverage of Adient (ADNT) with a Neutral rating and $14 price target The firm believes the near-term pressure on the auto suppliers is likely to continue. The volatile headlines around the impact from tariffs is likely to keep pressure on the stocks, the analyst tells investors in a research note. However, Citi believes demographics support growing demand in North America, and it expects European volume to recover along with the benefits of restructuring actions at Adient.