Faurecia : A solid release which underpins our Buy rating
>Q3 2020 sales in line and 2020 targets revised up - Faurecia reported Q3 sales of € 3,874m, in line with a consensus estimate of € 3,860m. With a 7% organic contraction compared with a 5% decline in production; Faurecia did not stand out in terms of outperformance, far from it, but this is no surprise as an improvement in this area is not expected before 2021 (gradually). Moreover, this did not prevent the supplier from raising its H2 2020 targets (sales, EBIT and F...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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