Faurecia: Bryan Garnier no longer a buyer.
(CercleFinance.com) - Bryan Garnier has downgraded its rating on the Faurecia stock from "buy" to "neutral," given the automotive supplier's limited upside potential relative to its fair value, which the broker has actually raised from 57 euros to 62 euros.
The broker notes that Faurecia's new management team has kept its promises so far and it expects there to be a favourable adjustment in EPS in the near term, although believes that the stock's significant revaluation over the last 18 months is now coming to an end.
"While some catalysts may continue to support outperf. vs. peers in the short term, we assume it is now time to start taking profits," the broker hence said.
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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 notes that Faurecia's new management team has kept its promises so far and it expects there to be a favourable adjustment in EPS in the near term, although believes that the stock's significant revaluation over the last 18 months is now coming to an end.
"While some catalysts may continue to support outperf. vs. peers in the short term, we assume it is now time to start taking profits," the broker hence said.
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.