Barclays reinstated coverage of Dauch Corporation with an Equal Weight rating and an $8 price target on June 22, following the Dowlais Group acquisition. The firm believes the deal expands Dauch's offerings but raises concerns about its exposure to China and the European Union. Barclays also noted Dauch's key North American internal combustion engine business and its exposure to General Motors and Ram. The company narrowed its full-year sales target to between $10.3 billion and $10.5 billion, from a prior range of $10.3 billion to $10.7 billion, while raising the lower end of its EBITDA guidance to a range of $1.3 billion to $1.425 billion.
Dauch CorporationBarclays reinstates with Equal Weight and $8 target, noting concerns about China and EU exposure, and narrowed sales guidance.
General Motors Company