Oppenheimer Initiates a Hold Rating on Delphi Technologies PLC

By Jason Carr

Oppenheimer analyst Noah Kaye initiated coverage with a Hold rating on Delphi Technologies PLC (NYSE: DLPH) today. The company’s shares opened today at $52.96.

Kaye observed:

“We view Delphi (DLPH) as a leading vehicle propulsion solutions provider benefiting from the global trend toward higher fuel efficiency and lower emissions. We see significant bookings growth momentum, ample self-help opportunities, and a diversifying portfolio of solutions that should enable Delphi to participate in the growth of vehicle electrification. While we believe management’s current long-term outlook may be conservative, upward revision potential may already be reflected in consensus estimates while the shares trade at a premium to the peer group. Accordingly, we initiate coverage at Perform and would become more constructive either on a pullback or on indicators of meaningfully higher growth vs. prior targets.”

According to TipRanks.com, Kaye is a 4-star analyst with an average return of 5.0% and a 51.2% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation Inc, BorgWarner, and Cummins.

Delphi Technologies PLC has an analyst consensus of Moderate Buy, with a price target consensus of $62.67.

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Based on Delphi Technologies PLC’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.3 billion and net profit of $98 million. In comparison, last year the company earned revenue of $1.17 billion and had a net profit of $103 million.

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Delphi Technologies PLC engages in the development, design, and manufacture of integrated powertrain technologies. It operates through the following segments: Powertrain Systems, and Eliminations and Others.