Faurecia: shares gain on broker upgrade
(CercleFinance.com) - Faurecia shares are up 3.
2% at 39.9 euros, making it the sharpest riser gainer amongst French mid caps, after UBS upgraded its recommendation on the stock from "sell" to "neutral".
In a note, the broker says "solid delivery" - despite weaker market conditions - and "better free-cash flow" have driven its upgrade on the share of the French auto parts maker.
Alongside this upgrade, UBS has raised its target price from 30 euros to 38 euros.
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.
2% at 39.9 euros, making it the sharpest riser gainer amongst French mid caps, after UBS upgraded its recommendation on the stock from "sell" to "neutral".
In a note, the broker says "solid delivery" - despite weaker market conditions - and "better free-cash flow" have driven its upgrade on the share of the French auto parts maker.
Alongside this upgrade, UBS has raised its target price from 30 euros to 38 euros.
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.