Valeo: Invest Securities raises target price

(CercleFinance.com) - Invest Securities maintains a "buy" rating on Valeo shares, raising its target price for them from E26 to E31.
3, which it says is justified by the stock's multiples which remain low.
Amongst equipment manufacturers, Valeo could rebound the most in 2023, it says.

After a strong Q4, 2022 results are in line with expectations and guidance, the analyst notes, who raises his EPS estimates to reflect an acceleration in the process of being confirmed.

The broker points to an expected acceleration in H2, an EBITDA margin that could take off above guidance in H2 - and in 2024 - as well as visibility on the growth of new businesses and the order book.



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