DANA Holding Corporation (DAN)

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JPMorgan sees Dana running to new high

Feb. 14, 2020 10:49 AM ET|About: Dana Incorporated (DAN)|By: Clark Schultz, SA News Editor

JPMorgan gives Overweight-rated Dana (DAN -1.2%) a price target bump to $23 from $22 after seeing solid execution in the context of end market expectations.

"We are attracted to Dana's relatively higher exposure to non-light vehicle markets, which are expected to exhibit moderating growth but to levels that are still on the whole greater than for light vehicle end markets," updates JP analyst Ryan Brinkman.

The $23 PT from Brinkman and team is 4.5X the 2021 EBITDAP estimate vs. the historical range of 2.5X to 6.5X. The average sell-side PT on Dana is $20.67. The 52-week high on Dana is $20.96.