Jefferies downgrades Dauch to 'hold'; shares slip

By Reuters News

** Shares of automotive supplier Dauch Corp DCH.N slip 2.4% to $5.77 in premarket trading

** Jefferies cuts to "hold" from "buy", cites "slowing momentum following a strong 1H (first half)"

** Brokerage says it is concerned around co's slowing momentum "due to the GM truck changeover in 3Q, as well as broader elevated launch costs"

** 6 of 13 brokerages rate the stock "buy" or higher, 7 "hold"; their median PT is $9

** Up to last day's close, shares down 7.8% YTD

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