Faurecia: Berenberg raises estimates for 2020-2023
(CercleFinance.com) - Berenberg confirms its buy rating on the share, while increasing its corresponding target price to 60 euros (vs.
56 euros).
Faurecia is targeting an operating margin of around 7%, which is close to pre-Covid levels, for sales of at least 16.5 billion euros, with a sales outperformance of over +600 basis points: the analyst believes that the group presents credible targets.
"Management now guides for a sector-leading growth outperformance of above 500bp over 2021-25 (and above 600bp in 2021)," Berenberg says.
"We raise our 2020-23E estimates by c4% and are 10% above consensus over the same period," it adds.
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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.
56 euros).
Faurecia is targeting an operating margin of around 7%, which is close to pre-Covid levels, for sales of at least 16.5 billion euros, with a sales outperformance of over +600 basis points: the analyst believes that the group presents credible targets.
"Management now guides for a sector-leading growth outperformance of above 500bp over 2021-25 (and above 600bp in 2021)," Berenberg says.
"We raise our 2020-23E estimates by c4% and are 10% above consensus over the same period," it adds.
Copyright (c) 2021 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.