Visteon rises after Wells Fargo upgrades to "overweight"

Visteon

20/09/2024 15:13

** Auto parts supplier Visteon Corp's shares rise  VC.O  ~2%
to $97.00 in early market hours
    ** Wells Fargo upgrades rating to "overweight" from "equal
weight", lifts PT to $122 from $115
    ** The new price target represents over 28% upside to the
stock's last close
    ** "VC screens well vs. peers with high GoM (gross margin)
offsetting moderating light vehicle production, lower inflation
risk, improving free cash flow and competitor disruption" -
Wells Fargo
    ** Four brokerages rate the stock "strong buy", seven "buy"
and six "hold"; median PT is $129 - LSEG data
    ** YTD, stock had fallen 22.3%

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))