Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

RW Baird Upgrades Dura Auto to 'Strong Buy'

RW Baird upgraded Dura Automotive (DRRA) to strong buy from market outperform.

Analyst David Leiker says better than expected forward guidance reduces the risk of the company tripping up its debt covenants. He upgraded on the belief that the stock will be "revalued" to include a balance sheet discount of 5.3 times the 2002 EBITDA vs. the group average of 5.9 times. He says he believes the discount will decline as it become evident Dura will stay in compliance with its covenants. Leiker notes Dura reduced its net debt in 2001, and should continue to do so in 2002. He upped the 2002 earnings per share estimate by $0.15 to $2.65 (above guidance), and raised the 2003 estimate by $0.10 to $3.35. Leiker says his $28 target could exceed $30 by yearend.

blog comments powered by Disqus