UPDATE 1-Baird raises US auto and truck parts suppliers sector

(Adds details)

March 31 (Reuters) - Robert W. Baird & Co upgraded the U.S.
auto and truck parts suppliers sector to "market overweight"
from "market weight," citing in part falling valuations to
levels at which suppliers typically outperform and declining
earnings expectations over the last six months.

In a note to clients, analyst David Leiker said adjacent
sectors such as home builders and retailers that usually lead
the suppliers group are outperforming the market with several
economic metrics like housing starts and housing permits
bottoming out.

Following are the rating and price target changes by Baird
on the auto and truck parts suppliers.
Company Rating
Price Target (in $) Current Price

Current Prior Current Prior (in $)
Accuride Corp ACW.N Outperform Neutral
12 7 8.24
American Axle & Mfg Holdings (AXL.N: Quote, Profile, Research) Neutral Neutral
24 20 20.58
ArvinMeritor Inc (ARM.N: Quote, Profile, Research) Outperform Neutral
17 12 12.73
Autoliv Inc (ALV.N: Quote, Profile, Research) Outperform Outperform
69 59 50.09
BorgWarner Inc (BWA.N: Quote, Profile, Research) Neutral Underperform
45 37 42.59
Commercial Vehicle Group Inc (CVGI.O: Quote, Profile, Research) Outperform Neutral
17 10 9.98
Gentex Corp (GNTX.O: Quote, Profile, Research) Outperform Outperform
25 22 16.99
Harman International (HAR.N: Quote, Profile, Research) Outperform Outperform
61 51 43.68
Johnson Controls Inc (JCI.N: Quote, Profile, Research) Outperform Outperform
51 40 33.66
Lear Corp (LEA.N: Quote, Profile, Research) Outperform Outperform
41 30 26.12
Magna International Inc (MGA.N: Quote, Profile, Research) Outperform Neutral
102 90 73.21
Methode Electronics Inc (MEI.N: Quote, Profile, Research) Outperform Neutral
16 12 11.25
Modine Manufacturing Co (MOD.N: Quote, Profile, Research) Neutral Underperform
15 13 14.49
Snap-on Inc (SNA.N: Quote, Profile, Research) Outperform Outperform
80 67 50.23
Stoneridge Inc (SRI.N: Quote, Profile, Research) Neutral Neutral
16 12 13.48
Strattec Security Corp (STRT.O: Quote, Profile, Research) Neutral Neutral
45 37 40.02
Superior Industries Int'l Inc (SUP.N: Quote, Profile, Research) Neutral Underperform
23 18 21.13
Tenneco Inc (TEN.N: Quote, Profile, Research) Outperform Neutral
37 28 28.54
Visteon Corp VC.N Outperform Neutral
8 3 3.96
(Reporting by Dhanya Ann Thoppil in Bangalore; Editing by
Deepak Kannan)