Faurecia: stock up on broker comments

(CercleFinance.com) - Faurecia (Forvia) shares rose nearly 4% in Paris yesterday, benefiting from Jefferies' comments, which upgraded the stock from "hold" to "buy", with an unchanged target price of 28 euros.


Now that the capital increase is complete, the US broker expects the market's attention to be focused on the recovery in volumes and prices.

The broker also said it expects potential positive earnings surprises from the automotive supplier, which is currently trading at a low valuation from an historical perspective.

Finally, Jefferies believes that asset disposals could also prove to be a catalyst in the next few months.


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