Forvia's share price is up 2.5% after Barclays upgraded its recommendation on the stock from 'underweight' to 'overweight' on Friday, and raised its target price from €20 to €24.

In a study devoted to the European automotive supplier sector, the analyst considers that it is time to take another look at the dossier, which he had downgraded in July 2022.

While acknowledging that Forvia is far from isolated from the turbulence currently shaking the market (slowdown in the electrical sector, high interest rates, ..), Barclays says he feels that "the worst is over" for the stock.

In his view, the company is at a "turning point", particularly in terms of free cash flow.

And with the stock down 21% since the start of the second half, valuation is now more attractive, he adds, with a P/E back below its long-term average.

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