Faurecia: Invest Securities reduces price target

(CercleFinance.com) - Invest Securities reiterates its 'buy' rating on the Faurecia share, which remains in its list of top picks despite downgrading its target price from 66 to 58 euros, excluding the (positive) impact of Hella, on the day following a warning for 2021 launched by the automotive supplier.


The analysts' firm recalls that the group had intimated that it might raise its guidance upon publication of its half-yearly figures and announced on 16 August the acquisition of Hella with a strong accretive effect on EPS.

Taking stock of this warning by revising its EPS 2021/22/23 to -24.4%/-13.8%/0% before the effects of the integration of Hella, the analyst underlines that the market has welcomed this announcement with a rise of +6.7% putting an end to the downward slide since mid-August.

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