(News Bulletin 247) – While adjusting its price target from 31.3 to 30.6 euros, Invest Securities reaffirms its ‘buy’ opinion on Valeo ‘always justified by the low multiples’, adding that the value remains its favorite in 2023 among OEMs.
‘After solid first quarter 2023 sales, in line with expectations, and order intake of four billion euros in the first quarter alone for the PTS branch, the guidance is unchanged with a positive bias all the same’, notes the analyst.
“The acceleration already suggested in the second quarter and the second half seems likely and the EBITA margin could take off beyond the 2023 guidance. .
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