UPDATE: Barclays Upgrades Visteon (VC) to Overweight

(Updated - April 8, 2015 11:42 AM EDT)

Barclays upgraded Visteon (NYSE: VC) from Equalweight to Overweight with a price target of $121.00 (from $107.00). Analyst Brian A. Johnson sees attractive risk/reward in the stock given exposure to rapid growth of the 'connected car'.

"With VC trading at $98/share, we see the stock offering a favorable risk/reward profile given the company’s exposure to the “Connected Car arms race”, which we expect will drive outsized organic revenue and earnings growth with potential for acceleration in new business wins and better-than-expected margin expansion," said Johnson.

"In our view, the new found pure-play auto electronics company is becoming interesting with a clear catalyst in sight. In a space starved of catalyst driven stories, and with the sale of HVCC expected in the coming weeks, we think the strategic opportunity around the remaining VC business provides the best catalyst opportunity in our coverage," added the analyst.

For an analyst ratings summary and ratings history on Visteon click here. For more ratings news on Visteon click here.

Shares of Visteon closed at $98.16 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• QuantumScape (QS) PT Lowered to $6 at Truist Securities
• HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
• Prysmian SpA (PRY:IM) (PRYMY) PT Raised to EUR53 at HSBC