Valeo: share down after Q1 results

(CercleFinance.com) - The Valeo share is down over 3% on Thursday, even after it published Q1 2021 sales of 4.
67 billion euros, which were up 4% as reported and up 8% LFL.

Pointing out that this growth exceeds expectations and at the top end of recent sector publications, Invest Securities has however upgraded its rating on the stock from "neutral" to "buy," increasing its target price for it from 32.8 euros to 35.9 euros.

The automotive supplier has announced strong outperformance (14 points relative to Q1 2019, adjusted for the geographical mix effect) in all regions and in all business lines, and confirms its targets for FY 2021.


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