Faurecia: Deutsche Bank a buyer; ups target price
(CercleFinance.com) - In a note released yesterday, Deutsche Bank, maintains its buy rating on the Faurecia share after the group's quarterly trading update, having raised its corresponding target price from 50 euros to 60 euros; this gives the share upside potential of about 25%.
The broker's comments hail "a reassuring 1st quarter" for the automotive supplier: although stable, sales have exceeded the consensus by 2%, and have also outstripped management's forecasts given a few months ago. In addition, on a like-for-like basis Faurecia has outperformed global automotive production market by 400 basis points, Deusche Bank points out.
More importantly, management has confirmed its annual forecasts, (and
2019) should be another year of growth, despite a very difficult
environment, Deutsche Bank points out.
Analysts' forecasts have been updated and the share's target price is no longer based on forecasts for 2019, but rather on those for 2020.
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.
The broker's comments hail "a reassuring 1st quarter" for the automotive supplier: although stable, sales have exceeded the consensus by 2%, and have also outstripped management's forecasts given a few months ago. In addition, on a like-for-like basis Faurecia has outperformed global automotive production market by 400 basis points, Deusche Bank points out.
More importantly, management has confirmed its annual forecasts, (and
2019) should be another year of growth, despite a very difficult
environment, Deutsche Bank points out.
Analysts' forecasts have been updated and the share's target price is no longer based on forecasts for 2019, but rather on those for 2020.
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.