Faurecia: Oddo BHF still 'cautious' - remains neutral

(CercleFinance.com) - Oddo BHF today maintains its neutral rating on the Faurecia share, saying that pleasant surprises are now largely behind us.


The broker became more cautious on Faurecia at the beginning of the year because it felt that the lack of catalysts no longer backed a continuation of the share's excellent stockmarket performance and the share's rerating that it had experienced since early 2017. Despite the recent sell-off (-18% over the past month), the broker remains cautious.

We estimate that the group's excellent commercial momentum (which should continue into Q2; +11.5%e in organic terms in H1) is already partially priced in by investors, Oddo says.

The broker is sticking to its target price of 65 euros.



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