(CercleFinance.com) – The stock increased by 2.5% after the positive analysis of Barclays which on Friday raised its recommendation on the stock from ‘underweight’ to ‘overweight’ with a price target increased by 20 at 24 euros.
In a study devoted to the European automotive equipment supplier sector, the analyst believes that it is time to look again at the file, which it had degraded in July 2022.
While he recognizes that Forvia is far from being isolated from the turbulence currently shaking the market (slowdown in electricity, high interest rates, etc.), Barclays says it has the feeling that ‘the worst is over’ around value.
From his point of view, the file is at a ‘turning point’, particularly in terms of its free cash flow.
And with the stock down 21% since the start of the second half, the valuation is now more attractive, he adds, with a PER falling below its long-term average.
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