(CercleFinance.com) – Stifel reaffirms its ‘buy’ recommendation on Faurecia and raises its target price from 26 to 29 euros, in the wake of EPS estimates for 2023 and 2024 raised 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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