Faurecia : An excessive sanction that offers a buying opportunity
>Upgrade to Buy from Neutral - target price of € 45 (vs € 35) - Faurecia has suffered “collateral damage” from the revisions to the financial terms of the merger between PSA and FCA (cf. the dedicated report published today), seeing its share price fall 13% since the new terms were announced. With the spin-off confirmed and the group likely to be among the first to benefit from the improvement in the environment, we see this as an opportunity to upgrade our rating to ...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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