(News Bulletin 247) – Stifel reaffirms its ‘buy’ recommendation on Forvia with a target price raised from 30.5 to 36 euros, in the wake of a sequence of EPS 2023-24 raised by 13% for the automotive supplier French.
“The first half of 2023 should show robust revenues, but the improvement in margins should be more modest”, judges the broker, estimating that the recovery in prices and the easing of costs should intensify in the second half.
“We continue to see Forvia as one of the most exciting execution cases in 2023, combining improved operational (supply chain, cost reduction, price recovery) and balance sheet deleveraging,” he continues.
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