Jefferies downgrades Dauch to 'hold'; shares slip

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

Jefferies cut the stock to "hold" from "buy", citing "slowing momentum following a strong 1H (first half)".

The brokerage said it is concerned about the company's slowing momentum "due to the GM truck changeover in 3Q, as well as broader elevated launch costs".

Six of 13 brokerages rate the stock "buy" or higher, while seven rate it "hold"; their median price target is $9.

Up to the previous day's close, shares were down 7.8% year to date.