Wells Fargo lowered its price target on Dana Incorporated to $33 from $36 while maintaining an Equal Weight rating, pointing to the company's planned merger with Eaton's mobility business. The firm noted the transaction will increase Dana's exposure to the aftermarket and commercial vehicle markets, but said growth expectations and projected synergies appear ambitious. Reuters reported on June 11 that the deal values Eaton's mobility unit at approximately $5.1 billion, with Eaton shareholders owning at least 50.1% of the combined company and Dana shareholders holding about 49.9% at closing, expected in the first quarter of 2027. The combined company, which will continue as Dana Inc., is expected to have an enterprise value of more than $10 billion and generate $250 million in run-rate cost synergies within 24 months of closing.
Dana IncWells Fargo cut price target from $36 to $33, citing ambitious merger synergies.
Eaton Corporation PLCEaton is selling its mobility unit; the deal is mentioned but no direct impact on Eaton's stock is assessed.
Wells Fargo & Company