Valeo: Invest Securities ups recommendation
(CercleFinance.com) - Invest Securities ups its recommendation from 'neutral' to 'buy' on Valeo, in light of a +23% potential compared to its target price, stable at 58 euros, whilst the share has plummeted -25% since the beginning of 2018.
The analyst underlines that the half-yearly reporting is marked by the confirmation of a rally in organic growth for the second quarter and an operating margin under pressure from raw material costs, albeit well defended.
“For the second half-year, Valeo remains conservative in view of the unstable global context for the automobile industry. The 2018 guidance given is very close to our estimates, both in terms of revenue growth and in terms of a potential slight decline in operating margins”, it continues.
Copyright (c) 2018 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 analyst underlines that the half-yearly reporting is marked by the confirmation of a rally in organic growth for the second quarter and an operating margin under pressure from raw material costs, albeit well defended.
“For the second half-year, Valeo remains conservative in view of the unstable global context for the automobile industry. The 2018 guidance given is very close to our estimates, both in terms of revenue growth and in terms of a potential slight decline in operating margins”, it continues.
Copyright (c) 2018 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.