Faurecia: Bryan Garnier raises target price.
(CercleFinance.com) - Bryan Garnier has confirmed its "buy" rating on Faurecia and has raised its fair value from 50 euros to 57 euros, in the wake of estimates for 2017-18 and a higher enterprise value/sales multiple.
"During the RS we hosted in Paris last Friday, management reiterated its strong ambitions to generate 7%+ EBIT margin over the mid-term thanks to self-help measures and innovative products," the broker states.
"In the short term, sales growth remains solid despite the US market slowdown and uncertainties concerning diesel in Europe with China continuing to contribute strongly to sales growth," it continues.
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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.
"During the RS we hosted in Paris last Friday, management reiterated its strong ambitions to generate 7%+ EBIT margin over the mid-term thanks to self-help measures and innovative products," the broker states.
"In the short term, sales growth remains solid despite the US market slowdown and uncertainties concerning diesel in Europe with China continuing to contribute strongly to sales growth," it continues.
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.