(CercleFinance.com) – Faurecia gained nearly 2% in Paris, helped in particular by an analysis by Stifel which reaffirms its ‘buy’ recommendation on the stock and raises its price target from 26 to 29 euros, in the wake of estimates EPS for 2023 and 2024 increased by 18% on average, the day after the 2022 publication of the automotive supplier.
The broker sees the share price, up around 44% since the start of the year, continuing to recover from a weak base, with materialization of evidence of debt reduction (sale, core free cash flow).
Stifel considers that Faurecia ultimately remains mainly a card for playing debt reduction (and, to a lesser extent, integration). He expects 1.2 billion euros in debt reduction in 2023, seeing room for a positive surprise.
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