Faurecia: Stifel reiterates rating

(CercleFinance.com) - Stifel said that while Faurecia's consolidated figures "could look rather muted", quarterly sales were driven by "organic outperformance" in each operating region.


However, the analyst said that due to the "ordeal" of the semiconductor shortage, the group has decided to maintain its February forecasts for the full year.

Also, "Given the very conservative macro assumptions which Faurecia has taken (LVP up +8% in 2021 vs IHS +13.6%), there could be room for a guidance upgrade in Q3-21," the broker noted.

Stifel therefore maintains its buy rating on the stock, also sticking to its target price of 53 euros (current price about 48 euros).


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