Berenberg - which has a buy recommendation on Forvia - on Monday raised its target price for the stock from €25 to €28, for which analysts still see upside potential.

In a research note published this morning, the broker anticipates positive surprises when the group publishes its first-half results, scheduled for July 27.

The broker anticipates a possible upward revision of sales and cash flow targets for 2023, thanks in particular to good pricing and better-than-expected business volumes in China.

Despite the stock's solid performance since the start of the year, we continue to believe that there is still upside potential due to the combination of attractive long-term fundamentals and a relatively defensive margin and cash flow profile in the shorter term", summarizes Berenberg.

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