As previously reported, Guggenheim analyst Ali Faghri downgraded Visteon to Neutral from Buy and withdrew the firm’s previous $160 price target on the shares. The primary reasons is what the firm views as "a relatively full valuation," though it also cites the potential for optically weaker first-half results that could leave shares range bound. While the firm expects the investor day upcoming in March to positively highlight the secular growth story and thinks mid-term targets should be supportive of the current valuation, meaningful upside from current levels is "challenging to pencil out" if the firm stretches its model to 2025/2026.
Published first on TheFly
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