Faurecia: Invest Securities still a buyer.
(CercleFinance.com) - Invest Securities today confirms its positive opinion on the Faurecia share after a difficult trading session for the automotive supplier (-3.
8%).
The investor day organised the day before in London is considered as "reassuring", although "unsurprising". Maintaining its buy rating on the share, the Parisian broker also confirms its target price of 52 euros.
Yesterday, Faurecia shares and the automotive sector were disrupted by lower annual sales forecasts by General Motors and a profit warning by German auto parts maker Schaeffler: Investment Securities considers this reaction as "exaggerated".
In addition, Faurecia yesterday organised an investor day devoted to its Clean Mobility division, which, according to management, is expected to grow by around 7% p.a. through to 2030, reaching an operating margin of 15% by then.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
8%).
The investor day organised the day before in London is considered as "reassuring", although "unsurprising". Maintaining its buy rating on the share, the Parisian broker also confirms its target price of 52 euros.
Yesterday, Faurecia shares and the automotive sector were disrupted by lower annual sales forecasts by General Motors and a profit warning by German auto parts maker Schaeffler: Investment Securities considers this reaction as "exaggerated".
In addition, Faurecia yesterday organised an investor day devoted to its Clean Mobility division, which, according to management, is expected to grow by around 7% p.a. through to 2030, reaching an operating margin of 15% by then.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.