Forvia escaped the downward trend on the Paris Bourse on Monday morning, following encouraging comments from Berenberg analysts, who said they still saw potential in the stock.

At around 9:50 a.m., the automotive equipment supplier's shares were up by more than 0.2%, while the SBF 120 index was losing nearly 0.3% at the same time.

In a research note published in the morning, Berenberg said it expects positive surprises when the group publishes its first-half results, scheduled for July 27.

The German bank anticipates a possible upward revision of sales and cash flow targets for 2023, thanks in particular to good pricing and better-than-expected business volumes in China.

Despite the stock's solid performance since the start of the year, we continue to believe that there is still upside potential, given the combination of attractive long-term fundamentals and a relatively defensive margin and cash flow profile in the shorter term", summarizes Berenberg.

The firm - which has a Buy recommendation on the stock - is therefore raising its target price from €25 to €28.

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