Goldman Sachs Sees Sharp Upside In This Automotive Supplier - Read Why - Visteon (NASDAQ:VC)

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.