BofA Securities Reiterates Buy Rating on Visteon (VC)

BofA Securities analyst John Murphy reiterated a Buy rating and $110.00 price target on Visteon (NASDAQ: VC)

The analyst comments "Visteon’s (VC) 1Q:25 operating EPS of $2.40 was above our estimate of $1.75 and consensus of $1.76. Revenues were above our forecast ($934mm vs. BofAe at $891mm) and gross margin was also higher (14.8% vs. BofAe at 12.7%). Operating expenses were also modestly lower ($47mm vs. BofAe at $49mm). Given these factors, adj. EBITDA of $129mm was above BofAe at $104mm (consensus was at $105mm). Excluding one-time items included in adj. EBITDA that we estimate were ~$15mm, VC’s results were still solidly above our forecast. That said, adj. EBITDA margin would have been closer to 12.2%, below our forecast for 12.7%. VC achieved GoM of +10% in 1Q:25, driven by the ramp-up of recent product launches for its digital cockpit partially offset by lower customer recoveries, annual pricing and FX. This compares with +2% in 4Q:24, and was a solid result considering the ongoing market headwinds in China. In 1Q:25, VC booked $1.9bn in gross new business wins that included $1bn with Asia OEMs excluding China."

For an analyst ratings summary and ratings history on Visteon click here. For more ratings news on Visteon click here.

Shares of Visteon closed at $74.57 yesterday.

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