Faurecia: Oddo BHF raises target price.
(CercleFinance.com) - In a note entitled "Winners of the automotive revolution," Oddo BHF has raised its target price for the Faurecia share from 57 euros to 68 euros (+20%).
The broker has confirmed its buy rating on the share, as has for Valeo and Plastic Omnium.
Analysts believe that the favourable momentum enjoyed by French automotive OEMs, which in the first half recorded average organic growth of 10%, "should continue".
For Oddo BHF, the challenges facing the automotive sector - for example, in terms of engine power and emission control, are "growth drivers" for OEMs. In addition, the broker's report stressed that "the rise of electrification represents a new opportunity;" by 2030, hybrid vehicles should represent between 35% and 40% of the market. This means an "increase in the share and value of content from OEMs," analysts say.
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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.
The broker has confirmed its buy rating on the share, as has for Valeo and Plastic Omnium.
Analysts believe that the favourable momentum enjoyed by French automotive OEMs, which in the first half recorded average organic growth of 10%, "should continue".
For Oddo BHF, the challenges facing the automotive sector - for example, in terms of engine power and emission control, are "growth drivers" for OEMs. In addition, the broker's report stressed that "the rise of electrification represents a new opportunity;" by 2030, hybrid vehicles should represent between 35% and 40% of the market. This means an "increase in the share and value of content from OEMs," analysts say.
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.