Valeo: still a buyer, UBS targets 82 euros.
(CercleFinance.com) - This morning UBS confirms its positive opinion on the Valeo share, while the automotive parts manufacturer has suffered in Paris after unveiling its interim results.
The Swiss broker maintains its 12-month target price of 82 euros.
UBS analysts deem that the group's accounts are “broadly in line with consensus,” with the group outperforming its market by 6%, posting organic growth of 9%. However, after the group's Q1 sales rose by 13% like-for-like, growth fell to just 5% in Q2.
What is to be retained from this publication? UBS highlights new orders of 3 billion euros, split between four contracts that have been booked by the group's joint venture between Valeo and Siemens, which makes electric vehicles.
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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.
The Swiss broker maintains its 12-month target price of 82 euros.
UBS analysts deem that the group's accounts are “broadly in line with consensus,” with the group outperforming its market by 6%, posting organic growth of 9%. However, after the group's Q1 sales rose by 13% like-for-like, growth fell to just 5% in Q2.
What is to be retained from this publication? UBS highlights new orders of 3 billion euros, split between four contracts that have been booked by the group's joint venture between Valeo and Siemens, which makes electric vehicles.
Copyright (c) 2017 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.