Valeo: Invest Securities maintains buy rating, trims TP

(CercleFinance.com) - While reducing its target price for Valeo shares from 28.
3 euros to 26 euros, Invest Securities maintains its buy rating on the stock, which it says is justified given its low 2023/24 multiples, after Q3 results were bang in line with expectations.

Although it acknowledges that 2023 seems more complicated because of the many uncertainties in the sector, the analyst believes that amongst its peers, Valeo is the stock that could rebound first when the context clears.

The stock isn't really in investors' good books today though - down about 0.7% in mid-afternoon trading.


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