- Bad 4Q21 results due to supply constraints and material inflation.
- For 2022, they expect revenues to grow 11%-20% and EBITDA to be 55M USD.
- CPS reduced its headcount a further 10% in 2021. The CPS of today is significantly leaner than the CPS of 2017.
- It is very unlikely that CPS' main customers would allow CPS to enter into financial difficulties as it depends on CPS' global supply chain and quality products.
- I reduced the target price to $60 per share to take into account the excess cash consumed in 2021.
For further details see:
Leaner Company And Pass-Through Contracts Will Allow Cooper-Standard To Emerge As A Winner