FAURECIA : Stifel raises its target price on the stock
The research firm highlights Faurecia's Q1 sales of €6.6 billion, driven by solid organic growth of 17.6%, notably in Europe/China and in the Seating/Lighting business.
Furthermore, the CFO has already defined a clear profitability trajectory, which suggests that the adjusted operating margin should increase over the course of the year from 5% in H2 22 to 5.3% in H1 23 and then 5.9% in H2 23, the broker believes.
Against this backdrop, the analyst raises his 2023/24 EPS guidance by an average of 9%.
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