Valeo is holding steady and thus underperforming the trend in Paris, held back by a recommendation downgrade by Stifel from 'buy' to 'hold' with a price target reduced from 22 to 11.3 euros.

According to the broker, current challenges (in addition to the tumult linked to the French legislative elections) could lead to a resetting of targets and prevent any recovery in the share and its peer Forvia, despite their underperformance since the start of the year.

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