- Goldman Sachs analyst Mark DeLaney upgraded Visteon Corp (NASDAQ:VC) to Buy from Neutral with a price target of $156, up from $119, implying a 29.6% upside.
- DeLaney believes that company-specific and cyclical factors will contribute to strong revenue and earnings growth.
- Visteon has good company-specific revenue drivers contributing to its 800-1200 bps growth over auto production sales target, including the increasing use of digital instruments/displays in the vehicle and a growing EV-specific business, battery management systems in particular, the analyst notes.
- DeLaney also expects auto production to have a multi-year recovery, and Visteon has above average incremental margins, which should position it well to grow earnings.
- Price Action: VC shares are trading higher by 0.52% at $121.00 in premarket on the last check Tuesday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Goldman Sachs Sees Sharp Upside In This Automotive Supplier - Read Why
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks