Valeo : Welcome details albeit not reassuring
>The CMD highlighted the group’s strengths... but also its weaknesses - Whilst the group issued its financial targets the previous day (see our detailed flash) we had to wait until yesterday for details on the forecasts, path and even the outlook for JV Valeo Siemens. All told and beyond a convincing technological positioning in both electrification and assisted driving (which was in no doubt), we saw more negatives than positives in the details provided by management...Valeo is an automotive supplier, partner to automakers worldwide. As an industrial and technology company, Co. focuses on designing, manufacturing and selling components, integrated systems and modules for automobiles and heavy goods vehicles, both on the original equipment and the aftermarket segments. In addition, Co. offers innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving to its customers. Co. operates through four business groups: Comfort and Driving Assistance Systems, Powertrain Systems, Thermal Systems, and Visibility Systems.
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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