Valeo: JPMorgan still a buyer, but cuts TP
(CercleFinance.com) - On Monday JPMorgan renewed its "overweight" recommendation on Valeo shares, albeit with a target price reduced from 25 euros to 22 euros.
In a note published before Q3 sales figures on 27 October, the analyst said he expected at least 25% growth.
This dynamic growth is thanks to a performance that exceeds that of the global automotive market and by the solidity of its after-sales activity, in the continuity of an already solid H1.
More importantly, the broker stresses that Valeo is well on track to improve its profitability in the second half of the year, in addition to reducing its debt.
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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.
In a note published before Q3 sales figures on 27 October, the analyst said he expected at least 25% growth.
This dynamic growth is thanks to a performance that exceeds that of the global automotive market and by the solidity of its after-sales activity, in the continuity of an already solid H1.
More importantly, the broker stresses that Valeo is well on track to improve its profitability in the second half of the year, in addition to reducing its debt.
Copyright (c) 2022 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.