Jefferies Raises Price Target on Cooper-standard Holdings (CPS) to $95; Reiterates Buy

Jefferies reiterated a Buy rating on Cooper-Standard Holdings Inc. (NYSE: CPS), and raised the price target to $96.00 (from $83.00), following the company's 1Q earnings report.

Analyst Bret Jordan commented, "CPS reported adj. Q1 EBITDA margin of 12.0% (vs. our estimate of 11.2%) as improved operating efficiency and favorable volume/mix overcame inflation and FX headwinds. As global production expansion and a bias to light trucks/ SUVs in North America should benefit CPS while contract wins ($108M in new business, 4 development contracts) point to continued share gains, we remain bullish on longer term earnings outlook."

For an analyst ratings summary and ratings history on Cooper-Standard Holdings Inc. click here. For more ratings news on Cooper-Standard Holdings Inc. click here.

Shares of Cooper-Standard Holdings Inc. closed at $83.11 yesterday.

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