Forvia: UBS upgrades stock

(CercleFinance.com) - UBS upgrades its recommendation on Forvia to Buy (from Neutral), maintaining its target price at E20, which represents 50% upside potential.


Upgrade to Buy on (1) conservative 2024 guidance, (2) financial leverage under control and (3) pragmatic view on industry challenges, it says.

For 2024, Forvia expects an operating margin of between 5.6 and 6.4% for sales of between 27.5 and 28.5 billion euros.


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