(CercleFinance.com) – Forvia escaped the downtrend this Monday morning on the Paris Stock Exchange following encouraging comments from analysts at Berenberg, who still say they see potential in the stock.
Around 9:50 a.m., the action of the automotive supplier gained more than 0.2%, where the SBF 120 index lost nearly 0.3% at the same time.
In a research note released in the morning, Berenberg said he foresees good surprises on the occasion of the publication of the group’s first half results, scheduled for July 27.
The German bank anticipates a possible upward revision of the turnover and cash flow objectives for 2023, thanks in particular to the good performance of prices and better than expected business volumes in China.
‘Despite the stock’s strong year-to-date performance, we continue to believe there is still upside potential due to a combination of attractive long-term fundamentals and a margin and cash relatively defensive in the shorter term’, summarizes Berenberg.
The establishment – which displays a buy recommendation on the title – therefore raises its target price from 25 to 28 euros.