Reply #12: KeyBanc cuts GM, Ford, Delphi and Visteon on UAW talks [View All]

[UpInArms]

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38520.3464718056-836882538&siteID=mktw&scid=0&doctype=806&

NEW YORK (MarketWatch) - KeyBanc analysts on Friday downgraded General Motors Corp. (GM) , Ford Motor Co. (F) and Delphi Corp. (DPH) to underweight from hold, saying any concessions by the United Auto Workers to GM will likely fall below investor expectations. Any deal, expected to be announced about June 30, would save GM some $400 million to $800 million a year, not $2 billion. "Since General Motors, Ford Motor Co. and Delphi Corp. stocks have risen in recent weeks based on expectations that the UAW would make major concessions to all three, we believe the above news will disappoint investors, causing the stocks to decline," the analysts wrote. KeyBanc also cut Visteon Corp. (VC) to hold from buy.