Berenberg Assumes Aptive PLC. (APTV) at Buy
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Berenberg analyst Jared Maymon assumes coverage on Aptive PLC. (NYSE: APTV) with a Buy rating and a price target of $130.00.
The analyst comments "We believe APTV will capture a disproportionately large share of the expanding tier-1 automotive supplier TAM. We believe APTV is a market leader in key parts of next generation technology (i.e., high-voltage terminals and connectors, domain controllers, radar, and software). In our view, APTV’s Signal & Power Solutions (SPS) content per vehicle (CPV) is rising from ~$500 in internal combustion engine vehicles (ICE) to ~$1,100 in EV’s, which should lead to annual growth over market (GoM) of 4%-6% through 2026E. The Active Safety & User Experience (ASUX) business should provide further growth potential as APTV captures share in the software defined vehicle (leading to GoM of 8%-10% through 2026E)."
Shares of Aptive PLC. closed at $83.00 yesterday.
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