Forvia assumed with a Buy at Jefferies

Jefferies assumed coverage of Forvia (FURCF) with a Buy rating and EUR 10.70 price target as part of a broader research note on auto suppliers.. Shares have underperformed once again this year, but upcoming disposals present catalysts to finally reduce the debt overhang on the equity story, and an opportunity to refresh the strategy to focus on what is core, the analyst tells investors in a research note. Electronics and Seating sit at the heart of what is driving growth in the industry, and a return to outperformance in China in the second half should be supportive for sentiment, the firm added.