(News Bulletin 247) – While maintaining its ‘hold’ recommendation on Valeo, Stifel raises its price target from 16 to 21 euros, in the wake of EPS estimates for the automotive supplier raised by around 25% on average for 2023 and 2024.
“We are putting aside our pessimistic scenario for Valeo, bringing our views closer to those of the consensus”, explains the broker, which expects 5.6 billion euros in turnover for the first quarter of 2023, thanks to vigorous organic growth. .
In its note summary, Stifel adds that ‘the cost hurdle may prove less daunting than feared in 2023 and 2024’, and that ‘VSeA’s losses appear to be shrinking faster than expected’.
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