Deutsche Bank maintains its 'hold' recommendation on Valeo, while lowering its target price from 14 to 12 euros, as the automotive supplier is due to publish its first-half figures on the evening of July 25.

The broker forecasts a first half with roughly stable revenues, with currency and scope effects offset by positive organic growth, and believes that margins should improve year-on-year.

Overall, we anticipate a start-up in line with market expectations. Taking into account updated end-market assumptions, we are reducing our forecasts for 2024 and subsequent years', he continues.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.