(News Bulletin 247) – Invest Securities reiterates its ‘buy’ opinion on Faurecia with an adjusted price target of 29 to 30 euros, after first quarter sales came out well above expectations (+4.8% ) with organic growth of +17.6%.
“The 2023 and 2025 guidance is fully renewed and our EPS, adjusted in February by -8%/-3%/-3%, are this time unchanged following this publication”, notes the analyst in charge of automotive supplier.
“Barring an accident, after a first half of which the EBITA margin is announced to be lower than that of the second half, an increase in the 2023 guidance seems possible in July, the rebound can therefore continue”, he continues.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
