Analyst Jeff Osborne of TD Cowen maintained a Buy rating on Visteon (VC – Research Report), retaining the price target of $117.00.
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Jeff Osborne has given his Buy rating due to a combination of factors including Visteon’s strong performance and strategic positioning. The company concluded FY24 with impressive achievements, securing $6.1 billion in new business awards and initiating 95 new program launches. In particular, Visteon demonstrated notable strength in the Americas market with a double-digit outperformance and showed resilience in Europe despite challenging conditions in China.
Furthermore, Osborne anticipates continued momentum in bookings driven by increasing demand for domain controllers and CPV expansion, with management aiming for over $6 billion in new business awards again. While the FY25 guidance was weaker than expected due to anticipated lower volumes from major automakers and ongoing challenges in China, Visteon’s record free cash flow and robust adjusted EBITDA indicate solid financial health. The company’s ability to outperform its customers’ production, especially outside China, and its successful introduction of 24 new products in the fourth quarter signify strong execution and growth prospects.
In another report released yesterday, CFRA also maintained a Buy rating on the stock with a $115.00 price target.