UPDATE: KeyBanc Starts Visteon (VC) at Sector Weight
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KeyBanc analyst James Picariello initiates coverage on Visteon (NASDAQ: VC) with a Sector Weight rating.
The analyst comments "We are initiating on VC with a SW rating as the Co.'s over-indexed NT chip shortage exposure and uncertainties in new launch profitability inform balanced risk/reward. We believe VC is a unique, pure-play cockpit electronics provider primed to leverage secular demand for modular digital clusters & displays, scalable infotainment, and EVs--converging w/its platform-based approach and burgeoning BMS capability. We regard VC's margin trajectory as the stock's key swing factor over the next 3-yr. period of likely all-time high revenue growth."
Shares of Visteon closed at $119.19 yesterday.
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