(News Bulletin 247) – Stifel maintains its buy rating on Faurecia shares, with a price target raised from 29 to 30.5 euros.
The analysis office highlights in particular the turnover of 6.6 billion euros recorded in the 1st quarter by Faurecia, driven by solid organic growth of 17.6%, particularly in Europe/China and by the Headquarters/Lighting activities.
Furthermore, the CFO has already defined a clear profitability trajectory, which suggests that the adjusted operating margin should increase during the year, rising from 5% in the 2nd half of 22 to 5.3% in the 1st half of 23 and then 5.9% in 2nd half 23, estimates the broker.
In this context, the analyst raises its 2023/24 EPS sequence by 9% on average.
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