Latest news with #VanessaJeffriess
Yahoo
16-05-2025
- Automotive
- Yahoo
American Axle to pursue secondary listing in U.K. after Dowlais deal
-- American Axle (NYSE:AXL) and Manufacturing said Friday it plans to pursue a secondary listing in London following its $1.4 billion acquisition of Dowlais Group (LON:DWL), the parent company of GKN (LON:GKN) Automotive. The Detroit-based company, already listed on the New York Stock Exchange, said the move is aimed at broadening investor access. It believes this will "ensure a greater range of both existing and prospective shareholders are able to access the future value creation opportunity of the combination." Jefferies analysts described the announcement as "a very interesting and unexpected update, but one that we see as positive, and as aligning more closely with the interests of shareholders if the deal does proceed." "We have written on our thoughts on this deal several times, including around the attractiveness of the US small-cap element, so we see this as welcome," analysts led by Vanessa Jeffriess added. The cash-and-stock deal to acquire U.K.-based Dowlais was first announced in January. The deal values the London-listed firm at around 1.16 billion pounds ($1.44 billion). Dowlais CEO Liam Butterworth said consolidation is important, as suppliers must offer a wider range of products to meet the diverse demands of customers, especially with China, the United States, and the European Union each pursuing distinct strategies in the shift to electric vehicles. American Axle expects the merger to provide scale benefits at a time when the automotive sector faces fluctuating EV demand, macroeconomic headwinds, and rising competition from Chinese electric vehicle makers. 'Recent global events have further highlighted the attractiveness of the combination,' the company said Friday, noting that regulatory filings were proceeding as scheduled. In March, U.S. President Donald Trump introduced a 25% tariff on imported cars and light trucks. However, in a partial easing of trade restrictions, automakers were granted a two-year grace period to boost the use of domestic components in vehicles assembled in the U.S. Related articles American Axle to pursue secondary listing in U.K. after Dowlais deal UBS upgrades Caterpillar as trade risks ease, but macro uncertainty remains Market reaction to Coinbase hack 'likely overblown': Mizuho Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
01-05-2025
- Business
- Business Insider
Jefferies Keeps Their Hold Rating on TT Electronics (TTG)
Jefferies analyst Vanessa Jeffriess reiterated a Hold rating on TT Electronics (TTG – Research Report) today and set a price target of p77.00. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Currently, the analyst consensus on TT Electronics is a Hold with an average price target of p87.67. Based on TT Electronics' latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of p274.4 million and a net profit of p6 million. In comparison, last year the company earned a revenue of p309.1 million and had a net profit of p11.9 million
