In a report released today, Sascha Gommel from Jefferies maintained a Buy rating on Vitesco Technologies Group AG (VTSCF – Research Report), with a price target of EUR70.00. The company’s shares closed last Tuesday at $39.33, equals to its 52-week low of $39.33.
According to TipRanks.com, Gommel is ranked #2717 out of 7912 analysts.
Currently, the analyst consensus on Vitesco Technologies Group AG is a Moderate Buy with an average price target of $55.13, which is a 24.4% upside from current levels. In a report issued on July 6, UBS also maintained a Buy rating on the stock with a EUR60.00 price target.
Based on Vitesco Technologies Group AG’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.26 billion and GAAP net loss of $11.3 million. In comparison, last year the company earned revenue of $2.3 billion and had a GAAP net loss of $31.7 million.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VTSCF in relation to earlier this year.
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Vitesco Technologies Group AG focuses on the development and production of components and system solutions for the powertrain of hybrid and electric vehicles and combustion engine-based vehicles. Its portfolio includes 48 Volt electrification solutions, electric drives, and power electronics for hybrid and battery electric vehicles. Furthermore, the product range counts electronic controls, sensors, actuators, turbochargers, hydraulic components, and pumps as well as solutions for exhaust after-treatment. Its operating segments are Electronic Controls, Electrification Technology, Sensing & Actuation, and Contract Manufacturing.
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