(News Bulletin 247) – Faurecia is gaining ground on the Paris Stock Exchange on Monday following favorable comments from JPMorgan on the automotive supplier, whose design office has made it one of its four favorite stocks in the sector .
Shortly before 4:00 p.m., the title took 3.8% and was among the largest increases in the SBF 120.
In a sector note, JPMorgan believes that the shares of European automotive groups still have upside potential despite the uncertainties surrounding the sector.
In this context, the intermediary says he favors Faurecia, Vitesco, Stabilus and Schaeffler shares because of their good price control and their promising potential in terms of results.
Regarding Faurecia, JPMorgan believes that the file depends on (1) the recovery of the profitability of its activities in North America, (2) the effects of its restructuring measures, (3) the achievement of growth close to 10% in Asia and (4) strong growth in automotive seating.
The analyst displays an ‘overweight’ recommendation and a price target of 39 euros on the stock.
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