Faurecia: Oddo remains a buyer.
(CercleFinance.com) - Oddo has reinstated its "buy" rating, with a target price of 55 euros, for the Faurecia stock, which belongs to its "Top pick list" for the second half of 2017, following the announcement of the creation of a joint venture in China with Liuzhou Wuling Industry Co.
Ltd.
This new structure aims to develop, produce and deliver car seat components to the affiliated brands of SGMW, along with other clients. It will market full seats, structures and other parts for SGM Wuling from three existing plants and one which is soon to be built.
The broker says that the annual turnover of this joint venture is expected to reach over 230 million euros, for which "this new entity is central to Faurecia's development strategy in Asia and specifically China.
Copyright (c) 2017 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.
Ltd.
This new structure aims to develop, produce and deliver car seat components to the affiliated brands of SGMW, along with other clients. It will market full seats, structures and other parts for SGM Wuling from three existing plants and one which is soon to be built.
The broker says that the annual turnover of this joint venture is expected to reach over 230 million euros, for which "this new entity is central to Faurecia's development strategy in Asia and specifically China.
Copyright (c) 2017 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.