Faurecia: boosted by a broker upgrade
(CercleFinance.com) - The Faurecia share is up over5% on Thursday, boosted by Bank of America, which has upgraded its recommendation on the automotive supplier's stock to "buy," with a target price of 48 euros,which still means that the stock is trading at just 9x EPS.
The broker notes "better mkt development + strong org growth outperformance should drive shares in the next years," which also points out high cost savings made by the group's management team, along with its targets for 2022.
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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.
The broker notes "better mkt development + strong org growth outperformance should drive shares in the next years," which also points out high cost savings made by the group's management team, along with its targets for 2022.
Copyright (c) 2020 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.