Tuesday, September 13, 2011

Deutsche Bank believes that Valuation of the US Auto & Auto Parts Sectors Have Reached a Compelling Levels

Analysts at Deutsche Bank states that following up on several auto and auto parts companies in the US, it does not appear that any suppliers have noticed material changes to production forecasts in North America or Europe, but all management teams appear to be contemplating downside scenarios and contingency plans; particularly for Europe. They pick Lear Corp. (NYSE: LEA) as their Top Pick among auto parts suppliers. They maintain a Buy rating on the shares of Lear with a price target of $64.