Forvia Shares Drop Below €10: Down 31.83% in Three Months, Bernstein Lowers Target
Automotive supplier Forvia is down 2.25% at €9.54 midday this Thursday, April 30, in a pressured Paris market with the CAC 40 down 1.15% during the session. The stock has fallen below the symbolic threshold of €10 and now shows a three-month decline of 31.83%. The European automotive sector remains weakened by the surge in Brent crude to over $124.
Bernstein Lowers Target to €12
Bernstein has reduced its price target on Forvia, bringing it down from €13 to €12, while maintaining its market performance recommendation. Based on the current price of €9.54, this new target represents a theoretical upside potential of approximately 25.8%.
This revision follows a few days after the publication of the first quarter revenue, which fell by 2.2% to €5.135 billion in a global automotive market down by 3.4%. The group also formalized on April 27 the sale of its Interiors business to Apollo fund for €1.82 billion, a move aimed at reducing debt. The next financial update is scheduled for July 31 with the semi-annual results for 2026.
Price Stuck Below Its Moving Averages
The stock is significantly below its medium-term technical benchmarks. The 50-day moving average (MM50) is at €10.97 and the 200-day moving average (MM200) at €11.67, which are about 15% and 22% above the current price, respectively. This gap reflects the deterioration in trend since the beginning of the year.
Forvia is also approaching the lower Bollinger band at €9.38, about 1.7% below today's price. The support identified at €8.99 remains the next low reference point. The RSI at 46 remains neutral, with no significant signs of exhaustion. Following in its wake, Michelin is down 2.15% in session, illustrating the pressure on the entire equipment supplier sector in a context of high Brent prices and limited visibility on European automotive production.
