(CercleFinance.com) – Invest Securities reiterates its ‘buy’ opinion on Faurecia with a price target raised from 23.1 to 29 euros, the day after an annual publication which ‘confirmed a clear recovery in the second half and a good business momentum in the fourth quarter’.
The design office also puts forward an almost completed asset disposal plan, securing the debt reduction effort of one billion euros in 2023, as well as the full renewal of the 2023 and 2025 guidance of the automotive supplier. .
If its estimated EPS for 2022/24 are revised by -8%/-3%/-3%, the improvement in the WACC (weighted average cost of capital), the rise in sector multiples and the update of net debt lead the analyst to raise his price target.
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