10.12.2018 19:09:32

Visteon Posting Steep Loss After Downgrade By Goldman Sachs

(RTTNews) - Shares of Visteon Corp. (VC) have moved sharply lower over the course of the trading session on Monday, tumbling by 3.8 percent. With the steep drop, Visteon has fallen to its lowest intraday level in well over a year.

The sell-off by Visteon comes after Goldman Sachs downgraded its rating on the auto parts maker to Sell from Neutral.

"We believe high exposure to industry headwinds during a product transition period will create a more difficult 2019 for the company, and we do not see an inflection until 2020 or beyond," said Goldman Sachs.

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