Visteon upgraded to Buy from Neutral at UBS

UBS analyst Joseph Spak upgraded Visteon to Buy from Neutral with a price target of $145, up from $143. The company’s lower growth is more than priced into the shies while its 2024 guidance “could be a clearing event,” the analyst tells investors in a research note. The firm sees mid-term concerns over a slowdown in growth as more than priced in and says the upcoming 2024 guidance could reset near-term expectations. Resetting 2026 could remove an overhang and allow the market to “focus on a still attractive growth story,” contends UBS.