Wells Fargo raised the firm’s price target on Visteon to $106 from $101 and keeps an Underweight rating on the shares. The firm notes Visteon fell 1.3% on an in-line Q4 adjusted EBITDA print. While Q4 GoM was hurt by program timing and Q1 sales are expected to fall quarter-over-quarter, Visteon guided to double-digit 2024 GoM with margins expanding 80bps to 11.8%. BMS remains sluggish, Wells adds.
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