- Goldman Sachs analyst Mark DeLaney upgraded Visteon Corp 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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