Faurecia: Invest Securities raises target price
(CercleFinance.com) - Invest Securities reinstates its "buy" rating on Faurecia - which it entered into its best pick selection at the start of November.
The broker has raised it corresponding target price from 60 euros to 64 euros (upside of 33%), in the wake of the automotive supplier's CMD.
This CMD was intended to present the Faurecia Clarion Electronics division, confirm guidelines for 2019 and update the scenario for 2022 - which in the end remains unchanged from the guidelines provided in May 2018, analysts note.
In their opinion, the group's capacity to anticipate, its agility and acquisition strategy manage to offset significant headwinds, while the strong scenario for 2022 - in line with expectations - and finally the spin-off in 2020 should support the share's recovery.
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