UPDATE: Jefferies Color On DAN Initiation

Jefferies, which initiated coverage of Dana Holding Corp. (NYSE: DAN), is providing some color on the stock.

“We think auto stocks are likely to transition into top-line stories this year as operating leverage fades,” Jefferies writes. “In that context, we think DAN offers the greatest cyclical leverage to a continued economic recovery in our automotive coverage. Our year-end price target of $20 implies 21% upside.”

Dana Holding closed Thursday at $16.34.