Adient PLC (ADNT) saw its stock price surge 5.60% in pre-market trading on Thursday, following a series of positive price target revisions from multiple financial institutions. The automotive seating supplier's shares received a boost as analysts expressed increased confidence in the company's prospects.
Several major banks adjusted their price targets for Adient upward: - Deutsche Bank raised its target from $16 to $18, maintaining a Hold rating - JP Morgan increased its target from $17 to $19 - UBS lifted its target from $13 to $15, keeping a Neutral rating - Wells Fargo adjusted its target from $13 to $14
While the average rating for Adient remains at Hold, with a mean price target of $15.11 according to FactSet, these upward revisions suggest a growing optimism among analysts regarding the company's future performance. Investors appear to be reacting positively to these adjustments, driving the stock's significant pre-market gain. As the automotive industry continues to evolve, Adient's position as a key supplier in the sector seems to be garnering increased attention from Wall Street.
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