Faurecia: Oddo BHF raises its earnings estimates.
(CercleFinance.com) - Oddo BHF has confirmed its buy rating on Faurecia stock and has raised its target price from 55 euros to 57 euros following the group's road show in London.
"Despite the stock's performance (+39% y-t-d) and outperformance relative to our sample (+18% for the latter), its valuation remains attractive" the broker's analysts said.
Analysts confirmed their belief in the stock in their selection of best picks for H2 2017 and have increased their estimates by 4% for the 2017 underlying operating profit to 1,145 million euros (+18% y-t-d), meaning an underlying operating margin of 6.8% (+60bp), which is almost 3% higher than the consensus.
Oddo BHF underlines that the group has confirmed its development strategy through acquisitions, in order to increase its presence in the most dynamic high added value markets.
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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.
"Despite the stock's performance (+39% y-t-d) and outperformance relative to our sample (+18% for the latter), its valuation remains attractive" the broker's analysts said.
Analysts confirmed their belief in the stock in their selection of best picks for H2 2017 and have increased their estimates by 4% for the 2017 underlying operating profit to 1,145 million euros (+18% y-t-d), meaning an underlying operating margin of 6.8% (+60bp), which is almost 3% higher than the consensus.
Oddo BHF underlines that the group has confirmed its development strategy through acquisitions, in order to increase its presence in the most dynamic high added value markets.
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.