TP ICAP Midcap announced on Wednesday that it had initiated a watch on Forvia's shares, with a "hold" recommendation and a TP of €10.
In a note, the broker considers that the French equipment manufacturer is still paying the price for the ill-advised acquisition of Hella, despite an attractive portfolio and considerable potential for optimization.
More generally, the investment bank is cautious about the outlook for the automotive industry, which it considers has reached the bottom of the cycle.
TP ICAP considers that selectivity is still necessary, preferring players with a "simple story", which leads it to continue to recommend investors to buy OPmobility, whose business portfolio is deemed robust, with a clear strategy and rigorous execution.
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