Wed, Nov. 11, 3:45 PM
- Metaldyne Performance (MPG -2.2%) is downgraded to Equal Weight from Overweight with a $23 price target at Barclays, which foresees a sluggish near-term growth outlook with cycle risk over the mid-term, even as organic growth likely accelerates beyond 2016.
- The firm likes MPG's industry-leading EBITDA margins and above-average free cash generation, but finds it hard to ignore lackluster organic growth in 2015-16 and sees revenue headwinds driving below-average organic growth.
- While the firm expects organic growth to accelerate to 6% in 2017 as headwinds fade and new business ramps, it also considers cycle risk in the mid-term.
Fri, Sep. 4, 12:45 PM
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