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Faurecia: stock up on broker comments

( - Faurecia shares are up 5% today, thanks to a double-upgrade by Jefferies (from "underperform" to "buy"), with analysts raising their target price for the stock by 50% to E24, in its comments on automotive suppliers.

"Operating environment is finally turning supportive of Suppliers and the post-Covid downward earning cycle appears to be coming to an end", the broker says, which would " use any potential disappointment on price compensation to build exposure".

Regarding Faurecia, Jefferies points to operating leverage supporting deleveraging and a repaired balance sheet, once the divestments already announced are completed, reducing the gearing ratio to around two times at the end of 2023.

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