Barclays sees 'glass half full' for European auto suppliers
23/04/2025 09:03
** Barclays sees "glass half full" for European auto suppliers, saying they are "down but not out", as they show encouraging signs of earnings and cash resilience ** "Liquidity is healthy too and valuation still looks to be at rock bottom, allowing selective risk/reward stock picking", the broker adds ** According to Barclays, "peak uncertainty" has passed and the sector has started to recover from its lows ** Current challenges are unwelcome but highlight that despite high adversity, EU suppliers can still showcase robust signs of resilience, Barclays says ** The broker maintains its original coverage for four stocks but lowers their price target, while it downgrades Spain's Gestamp GEST.MC to "underweight" from "equal weight"
| COMPANY | RATING | OLD RATING | PT | OLD PT |
|---|---|---|---|---|
| Continental CONG.DE | overweight | overweight | 80.00 | 85.00 |
| Forvia FRVIA.PA | overweight | overweight | 10.00 | 14.00 |
| Gestamp GEST.MC | underweight | equal weight | 2.50 | 3.00 |
| Michelin MICP.PA | underweight | underweight | 28.00 | 30.00 |
| Valeo VLOF.PA | equal weight | equal weight | 9.00 | 11.00 |