Faurecia: Invest Securities still a buyer, adjusts TP

(CercleFinance.com) - Invest Securities reinstates its "buy" rating on the automotive suppler Faurecia's shares, which it maintains in its best pick list, while reducing its corresponding target price from 70.
7 euros to 69.4 euros in the wake of respective reductions in 2021/22/23 earnings estimates of -4.5%/-8.3%/-4.7%.

The analyst explains that he is adjusting his 2021/22/23 estimates by taking into account the initial expenses relating to the Hella acquisition in 2021 and an adjustment of the consolidation period for Hella in 2022 to 11 months (instead of one year).


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