Inside the Market’s roundup of some of today’s key analyst actions
RBC Capital Markets analyst Tom Narayan warns sentiment toward North American auto parts suppliers is “negative” heading into third-quarter earnings season “and for good reason.”
“We expect ‘24 guidance to come down for APTV, DAN, and MGA. Meanwhile, for AXL and MBLY guidance appears reasonable. Commentary on 2025 could have impacts, however. For example, we expect MBLY to rationalize ‘25 which could result in consensus coming down. For Dana, upside to Commercial numbers in ‘25 owing to the pre-buy in North America could be viewed positively.”“Our Q3 EBIT is well below consensus and assumes a 5.1-per-cent margin after the company posted 5.
After excluding non-operating items, Mr. Steuart said North American lumber EBITDA of a loss of $66.3-million was close to his forecast with shipments declined 10 per cent from the same period, however, he emphasized its European lumber operations “remain a relative bright spot with positive single-digit EBITDA margins.”
“If ATD achieves its ambitious F2028 targets, stock price upside remains,” he said in a research note previewing the late November release of its second-quarter 2025.. “We expect fuel consumption to be higher year-over-year in Q2/F25, primarily reflecting an easier comparable base, partly offset by pressured consumer demand . On a comparable basis, NBF models U.S. same store volume increase of 0.5 per cent and Canada same store volume increase of 0.5 per cent. This reflects a Q2/F25 2-year stack of negative 1.0 per cent in the U.S. and 3.5 per cent in Canada.”
Mr. Davis also said the Calgary-base company’s “peer-leading” growth is funded and driven by “quality” payors.
Atd Growth Target Kneat Average Quarter Rating Norfolk Southern Corp. Raymond James CSX Corp.
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