Faurecia: Invest Securities adjusts target price
(CercleFinance.com) - This morning an analyst at Invest Securities confirms his "buy" recommendation on the Faurecia share, noting H1 results that are slightly above the consensus and the broker's own estimates.
The broker also appreciates the group's reaffirmed guidance, despite the decline in the automotive market.
The broker says that it has marginally cut its estimates for 2020 and 2021, although has slightly increased them for 2019. It has trimmed its target price to 62 euros, against 64 euros previously. The share's sharp rebound yesterday (+11.5%) leaves further upside potential of +37%, it adds.
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