BofA analyst John Murphy raised the firm’s price target on Gentex to $39 from $35 and keeps a Neutral rating on the shares after the company hosted an investor event with an “upbeat” tone and details reflecting future growth opportunities and margin recovery. Given what it views as the “solid product portfolio and the strategic plan to pursue new end markets,” the firm raised its valuation multiple following the investor day, but reiterates a Neutral rating as it sees Gentex facing longer-term headwinds.
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