Faurecia: Berenberg says buy, but cuts TP
(CercleFinance.com) - On Wednesday Berenberg shaved 2 euros from its target price for Faurecia shares, which is now 58 euros (vs.
60 euros previously), while maintaining its buy rating on them.
In comments on the European automotive sector, the German broker says that Faurecia remains its best pick amongs European car parts makers.
Regarding its fundamentals, analysts still appreciate the group's solid MT growth outlook, the resilience of its margins, a proven ability to execute and a particularly attractive valuation.
Berenberg also considers the acquisition of Hella as making sense strategically; it will be particularly accretive in terms of earnings.
In line with the market, the share is currently down over 2% in Paris.
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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.
60 euros previously), while maintaining its buy rating on them.
In comments on the European automotive sector, the German broker says that Faurecia remains its best pick amongs European car parts makers.
Regarding its fundamentals, analysts still appreciate the group's solid MT growth outlook, the resilience of its margins, a proven ability to execute and a particularly attractive valuation.
Berenberg also considers the acquisition of Hella as making sense strategically; it will be particularly accretive in terms of earnings.
In line with the market, the share is currently down over 2% in Paris.
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.