Craig-Hallum analyst Ryan Sigdahl raised the firm’s price target on Gentherm to $85 from $70 and keeps a Buy rating on the shares. The firm notes that after years of waiting for a high-volume OEM award for ClimateSense, Gentherm announced a scalable award for nearly all future General Motors ICE and EVs starting with its software-defined vehicle architecture in a few years. Craig-Hallum believes this is a watershed moment for the business, financials, and the stock. Even after the positive stock reaction, Craig-Hallum would be aggressive buyers of the stock given its near-term fundamental outlook, free cash flow, and longer-term opportunity given software-enabled solutions and outsized OEM award trends.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on THRM: