Faurecia: Oddo BHF upgrades stock
(CercleFinance.com) - Oddo BHF has upgraded its rating on the Faurecia share from "neutral" to "buy," while raising its corresponding target price from 35 euros to 45 euros, in order to play the improvement of momentum that is ahead for the automotive equipment manufacturer over the next 18 months, which is not yet priced in.
Faurecia has emerged as the "collateral victim" of the revision of the financial terms of the merger between PSA and FCA, with its share price having fallen by 13% since then, the analyst said.
'While the spin-off has been confirmed and the equipment manufacturer should be onz of the first beneficiaries of the improvement in sector conditions, we see an opportunity here, he adds.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.