UPDATE: Credit Suisse Downgrades Veoneer (VNE) to Underperform

(Updated - October 28, 2020 4:53 AM EDT)

(updating comment)

Credit Suisse analyst Dan Levy downgraded Veoneer (NYSE: VNE) from Neutral to Underperform with a price target of $12.00 (from $9.00).

The analyst comments "VNE benefits as the supplier in our coverage with the highest exposure to the high-growth active safety product area. However, with the stock tripling from its COVID-19 depths, we believe the current valuation does not adequately reflect key risks: long path to profitability/cash flow breakeven, dilution related to potential future cash raise, questions on future revenue outlook."

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

Shares of Veoneer closed at $15.81 yesterday.

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