Gentex Corp (GNTX): Full Display Mirrors Add EPS Tailwind - Wells Fargo
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Wells Fargo analyst, Richard Kwas, reiterated his Outperform rating on shares of Gentex (NASDAQ: GNTX) after hosting a series of management/investor meetings. Near term, mgmt is comfortable with production trends. Longer term, the company should benefit nicely from full display mirror (FDM) launches (2018-19). The analyst estimates incremental EPS contribution could approximate $0.10 by 2019.
No change to the valuation range of $17.50 - 20.50 based on an earnings multiple of 13.5x-15.8x on 2017 EPS.
Shares of Gentex closed at $17.58 yesterday.
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