Faurecia : No more (pleasant) surprises to be expected…
>Taking a breather after an excellent performance - Following a change of analyst, we are resuming coverage with a Neutral rating and € 65 target price. We adopted a more cautious view on Faurecia at the start of the year as we thought the lack of stock triggers would prevent it from continuing to perform and re-rate as remarkably as it has done since early 2017. Despite the recent sell-off (-18% in the past month), we remain cautious. We think that the group’s excell...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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