VC - Visteon stock tapped by CFRA to run to a new high

CFRA Research turns more constructive on Buy-rated Visteon ([[VC]] +3.3%).Analyst Garrett Nelson: "We continue to like VC given its exposure to emissions-free and connected car technologies, which we think will do well under the Biden administration. We also have a bullish outlook on Chinese demand, which we think will help drive superior near-term earnings growth. We see margin expansion from a combination of revenue growth and cost cuts, which should drive earnings improvement in the coming quarters."Nelson notes that VC is one of the most China-levered auto suppliers, with 27% of total revenue generated from the region in 2019. He also says VC's balance sheet strength warrants a premium to peers.CFRA boosts its price target to $160, which works to 24.6X the 2022 EPS estimate. The 52-week high for Visteon is $147.55.Visteon was one of Baird's top electrification picks for 2021.

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Visteon stock tapped by CFRA to run to a new high