Delphi Automotive PLC Receives “Overweight” Rating from Morgan Stanley (DLPH)
Delphi Automotive PLC (NASDAQ:DLPH)‘s stock had its “overweight” rating reiterated by stock analysts at Morgan Stanley in a report issued on Friday. They currently have a $85.00 price target on the stock. Morgan Stanley’s price target suggests a potential upside of 24.71% from the stock’s previous close.
The analysts wrote, “The IRS’s declaration that DLPH should be treated as a domestic corporation will have little to no impact on earnings through the end of the decade, in our view. DLPH remains an MS Best Idea The IRS disagreed with DLPH in its domicile case.After 4 years of waiting, DLPH announced that on June 24, the IRS notified that it believes DLPH should be treated as a domestic corporation (DLPH is currently based in Jersey, UK) retroactively to Oct 6, 2009, subjecting it to US federal income tax on worldwide taxable income. This would send DLPH’s tax rate from 17% in 2013 to 20-22%.”
Shares of Delphi Automotive PLC (NASDAQ:DLPH) traded down 0.37% during mid-day trading on Friday, hitting $67.91. The stock had a trading volume of 771,129 shares. Delphi Automotive PLC has a one year low of $50.67 and a one year high of $71.27. The stock’s 50-day moving average is $68.21 and its 200-day moving average is $65.07. The company has a market cap of $20.622 billion and a price-to-earnings ratio of 16.83.
Delphi Automotive PLC (NASDAQ:DLPH) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.12. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts predict that Delphi Automotive PLC will post $4.97 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. raised their price target on shares of Delphi Automotive PLC from $78.00 to $84.00 in a research note on Tuesday, May 27th. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Delphi Automotive PLC in a research note on Monday, May 12th. They now have a $75.00 price target on the stock, down previously from $90.00. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Delphi Automotive PLC in a research note on Tuesday, April 22nd. They now have a $76.00 price target on the stock. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $74.22.
Delphi Automotive PLC (NASDAQ:DLPH) is a global vehicle components manufacturer and provides electrical and electronic, powertrain, safety and thermal technology solutions to the global automotive and commercial vehicle markets.
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