- Guggenheim Partners analyst Ronald J Jewsikow upgraded Visteon Corp VC to Buy from Neutral and introduced a price target of $161.
- The analyst is bullish on the stock, post meeting with the management, and expects an easing supply chain, which presently drives core revenues, to accelerate near-term growth.
- In the medium term, Jewsikow sees VC as "clear ICE-to-EV" winner, given its potential to boost CPV CAGR in the mid-teens (around 15%) through 2030.
- Also, the analyst believes that VC is a future-focused company, and should cash on content opportunities in next-generation architectures, thereby promising long-term growth.
- Jewsikow sees VC as well positioned in the displays market and cites hybrid to digital cluster transition as a huge tailwind for the company through 2026.
- Last month, the company reported Q1 2023 revenues of $967 million, beating the consensus of $937.4 million, and adjusted EPS of $1.25 exceeded the consensus of $1.18.
- Post Q1 results and meeting with the management, Jewsikow raised the estimates for 2023 adjusted EPS to $6.95 from $6.70, revenues to $4.08 billion from $4.06 billion and adjusted EBITDA to $449 million from $438 million.
- Also, the analyst expects 2024 adjusted EPS of $9.22, revenue of $4.51 billion and adjusted EBITDA of $535 million.
- Price Action: VC shares are trading higher by 5.80% at $139.94 on the last check Wednesday.
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VCVisteon Corp
$81.211.65%
Edge Rankings
Momentum
23.52
Growth
70.77
Quality
58.99
Value
90.60
Price Trend
Short
Medium
Long
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