Veoneer (VNE) PT Raised to $32 at Mizuho Securities

February 3, 2021 5:41 PM EST
Get Alerts VNE Hot Sheet
Price: $24.75 +1.23%

Rating Summary:
    3 Buy, 10 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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Mizuho Securities analyst Vijay Rakesh raised the price target on Veoneer (NYSE: VNE) to $32.00 (from $23.00) while maintaining a Buy rating.

The analyst commented, "VNE reported above-consensus DecQ revenue of $455M, ~flat y/y, with organic sales up 17% y/y vs. LVP up 2%. VNE now sees 2021E units at 82M vs. prior ~80M. DecQ Active Safety was up 38% y/y, with new launches and growing content. VNE should benefit from an C21/C22 global Auto LVP rebound of ~14%/5% y/y, combined with Active safety expected to be up 45% y/y in 2021. Maintaining our Buy rating, adjusting estimates, and raising our PT to $32 (prior $23). We see VNE positioned well with its large order book, a path to positive FCF & sustainable OM in 2023, and a rebound in LVP in 2021E."

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