Ré-accélération fin 2016 et en 2017 - ACHAT - OC 48€
La journée IS avec le CFO et l’IR du groupe qui se tenait hier a permis de faire un point détaillé et rassurant sur une fin d’exercice 2016 qui se déroule finalement mieux que prévu. De plus, l’exercice 2017 devrait être marqué par le rebond de la croissance. Les guidances 2018 réaffirmées nous semblent plus que jamais atteignables. Nous maintenons nos estimations 2016/17/18e. Nos modèles de valorisation (DCF, comparables) donnent un objectif de 48€ (+34%). Nous réitérons notre opinion ACHAT.Faurecia is an automobile equipment supplier based in France. Co.'s activities can be divided into four business units: Automotive Seating (design of vehicle seats, manufacture of seating frames and adjustment mechanisms, and assembly of complete seating units); Emissions Control Technologies (design and manufacture of exhaust systems); Interior Systems (design and manufacture of instrument panels, door panels and modules, and acoustic components); and Automotive Exteriors (design and manufacture of front ends and safety modules). Some of Co.'s customers are PSA Peugeot Citroen, VW Group, Renault-Nissan, Ford Group, BMW and GM Group.
Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
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