Faurecia: Oddo still a buyer, but cuts TP
(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Faurecia shares, while cutting its target price for them from 60 euros to 50 euros, following a solid publication and outlook by the automotive supplier.
The analyst says that while it has recently suffered, this publication has, in fact, reinforced the broker's opinion that Faurecia is one of the best positioned equipment manufacturers to play the theme of leaving the crisis.
However, he believes that the M&A risk should remain predominant in the near term and could still hold back the stock until official announcements are made regarding the future of Hella, and that the share's current valuation levels suggest the risk of a capital increase.
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