Valeo: BOA still rates 'underperform'

(CercleFinance.com) - Bank of America (BofA) reiterates its "underperform" rating on the Valeo share, along with its target price of 26 euros (about 22% downside potential), the day after the automotive supplier presented its new key targets at a CMD, which were deemed to be in line with estimates as a whole.


"Guidance leaves little room for excitement, esp. after recent >40% stock rally," the broker says, which also considers that the share's valuation is "steep" - with it trading at 15.8x 2020e EPS.


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