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Aptiv’s Growth Trajectory Hits Speed Bump: Morgan Stanley Lowers Forecast

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Aptiv PLC (NYSE:APTV) shares are trading lower after Morgan Stanley downgraded the stock to Underweight (from Equal-Weight) and lowered its price target to $74 (from $90).

Analyst Adam Jonas re-rated the stock following fourth-quarter FY23 results. Last month, the company reported fourth-quarter fiscal 2023 net sales growth of 6% year-over-year, $4.92 billion, missing the consensus of $5.07 billion, while adjusted EPS of $1.40 beat the consensus of $1.33.

Aptiv sees FY24 net …

Full story available on Benzinga.com

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