Market Overview

Is Visteon Really An Upgrade? Barclays Thinks So


Shares of Visteon Corp (NYSE: VC) were up more than 4 percent on Wednesday, after Barclays analyst Brian A. Johnson upgraded the stock from Equal-weight to Overweight and boosted his price target from $107 to $121.

Johnson also raised EPS estimates for fiscal 2015 and fiscal 2016, from $4.50 to $4.53, and from $5.77 to $5.87, respectively.

The upgrade came after the analyst revisited Visteon's exposure to the "Connected Car arms race," which Barclays expects "will drive outsized organic revenue and earnings growth with potential for acceleration in new business wins and better-than-expected margin expansion." With the stock trading at $98 per share (at the time the report was produced), Barclays sees the stock offering a favorable risk/reward profile.

They think the "newfound" pure-play auto electronics company is becoming alluring and has a clear catalyst in sight. "In a space starved of catalyst-driven stories, and with the sale of HVCC expected in the coming weeks...the strategic opportunity around the remaining VC business provides the best catalyst opportunity" among the companies they cover.

Shares of Visteon closed Wednesday at $102.40, up 4.32 percent.

Latest Ratings for VC

Sep 2019MaintainsNeutral
Sep 2019DowngradesNeutralSell
Jul 2019MaintainsNeutral

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Posted-In: Barclays Brian A. Johnson Connected CarAnalyst Color Upgrades Price Target Analyst Ratings


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