Visteon reinstated with a Buy at BofA

BofA reinstated coverage of Visteon with a Buy rating and $180 price target. As one of the fastest growing auto suppliers, Visteon is “leveraged to key industry mega-trends,” including the digitization and electrification of the auto sector, the analyst tells investors. Visteon should benefit from EV expansion and the digitization of autos, while the timing of the auto cycle is “favorable,” supporting operating leverage, the analyst contends.