Analysts at Cowen have started covering shares of Delphi Automotive Plc at their equivalent of a buy rating, saying the auto parts maker is set for an “above-market” growth as the leading system integrator to tackle the vehicle electrification, autonomous, and infotainment trends. They set a price target of $120 on the stock, which represents a 17% upside from Monday’s prices. “We see the anticipated spinoff of (Delphi’s) powertrain business in early 2018 a catalyst for the company to unlock value as a pure play on the megatrends of electrified, autonomous, and connected vehicles,” the analysts said. Cowen analysts also started their coverage of shares of Lear Corp. at buy, and Autoliv Inc. at their equivalent of a neutral rating.
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