(Boursier.com) — Up 7.3% to 14.5 euros, Faurecia offered a hearty rebound this weekend and erased some of the losses of the last two days. The automotive supplier was heavily heckled Thursday after the presentation of its Power25 plan, during the first Capital Markets Day since the merger with HELLA.
Oddo BHF said it was surprised by this very poor reaction, while the objectives came out overall in line with expectations (lower turnover but including future disposals, higher FCF and profitability in line) with an exhaustive presentation of the various divisions and their potential, whether in terms of growth, new technologies or expected improvement in their operational performance. It nevertheless confirms the current lack of appetite of investors for equipment manufacturers and in particular the most indebted among them such as Faurecia and the need for the latter to reassure by concretizing new disposals. Although the macroeconomic environment should continue to weigh on the sector in the short term, the newsflow expected in the coming months in terms of disposals, combined with the rebound in results from the second half and the very low valuation, are all elements that confirm the broker in its positive opinion on the title.
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