Faurecia: Invest Securities still a buyer, but cuts target
(CercleFinance.com) - Invest Securities reiterates its "buy" rating on the Faurecia share, although has reduced its price target from 60 euros to 56 euros, after cuts in 2019 and 2020 EPS estimates (respectively -5.
5% and -4.6%) for the automotive supplier.
The broker considers that 2018 results are "very reassuring," as the group exceeded both its own guidelines and the consensus, while the deterioration in the automotive market in the second half of the year fueled fears and destroyed valuation.
2019 guidelines show the group's ability to maintain operating profitability of at least 7%, with low organic growth (+0.5% to +2.5% like-for-like), analyst who monitors the stock continues.
Copyright (c) 2019 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.
5% and -4.6%) for the automotive supplier.
The broker considers that 2018 results are "very reassuring," as the group exceeded both its own guidelines and the consensus, while the deterioration in the automotive market in the second half of the year fueled fears and destroyed valuation.
2019 guidelines show the group's ability to maintain operating profitability of at least 7%, with low organic growth (+0.5% to +2.5% like-for-like), analyst who monitors the stock continues.
Copyright (c) 2019 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.