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Company News

BUZZ-U.S. auto tech suppliers: Cycle headwinds continue - Jefferies

** Jefferies says expects another round of full year guidance cuts for auto tech suppliers, likely against another difficult quarter; cuts PTs on U.S. auto suppliers averaging about 4.1 pct

** Says another round of cuts is widely expected as global production remains soft led by China (with likely limited upside from North America & Europe)

** Cuts PT about 1-10% including for Aptiv Plc to $99 from $103; Lear Corp to 172 from $176; Visteon Corp to $ 58 from $62

** Says China volumes have remained under pressure through May (-18.9% QTD), North America, Europe appear poised for low-to-mid single digit yr/yr 2Q declines (Reporting by Rachit Vats)

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