Valeo: Invest Securities maintains buy rating after results

(CercleFinance.com) - Although it has trimmed its target price for the share from 31.
5 euros to 28.3 euros, Invest Securities reiterates its "buy" rating on it, in view of low 2023/24 multiples.

Analysts say that the company has been in the market for a number of years and is now in the process of developing a new business model.

The day after results that exceed expectations, which held no unpleasant surprises, the analyst's comments were "very agressive", saying that, despite the context, Valeo appears to have finally found a "momentum" that will ensure recovery in its profitability.

The broker says that it needs to confirm that the headwinds have calmed down, although is maintaining its estimates because management's enthusiasm has not gone as far as raising guidance and there are still many uncertainties in the sector.

The market agrees, with the share up over 3% at just short of the symbolic 20 euros this morning



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