Faurecia: Invest Securities still a buyer but cuts target

(CercleFinance.com) - Invest Securities renews its "buy" rating on the Faurecia stock, although has cut its target price from 72 euros to 63 euros, the day after the automotive supplier's trading update for the third quarter of 2018.


According to the broker, this reflects a decline in comparable growth that is limited and it suggests that the slowdown in Europe and China may be only temporary, with a fourth quarter that looks set to rebound.

Since its interim results publication, Invest Securities has pointed out that the continued decline in the Faurecia share price (-23%) has widened the gap between guidance and its reiterated estimates and a share valuation that has reached historic lows.



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