Faurecia: Invest Securities raises target price.
(CercleFinance.com) - In a note issued on Wednesday morning, Invest Securities raised its target price on the Faurecia stock from 48 euros to 52 euros, reiterating its "buy" rating, after the group's announcement of solid Q1 sales.
The automotive supplier expected a 6% increase in l-f-l growth in 2017, after +2.6% last year, while Q1 sales rose 10% on a reported basis and year-on-year to 4.23 billion euros, "largely above the consensus and our expectations," said the analyst, who was expecting 4.03 billion euros.
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