The automotive supplier's stock rose 2.32% to €10.06 at the opening on Wednesday, May 6, crossing back over the symbolic €10 threshold lost at the end of April. The CAC 40 is up 1.45% during the session, and the DAX has gained 1.28%. Over the year, the stock shows a +43.35% despite a largely negative quarter.
Forvia gains some breathing room after several sessions under pressure. The stock crosses the €10 mark for the first time since the end of April, but remains below the 50-day moving average at €10.41 and significantly under the 200-day moving average at €11.67. The gap with the 200-day average exceeds 13%, indicating that the medium-term trend remains bearish.
The stock is trading in the lower part of the Bollinger Bands, between a lower bound of €9.52 and an upper bound of €10.89. The technical resistance at €10.92 nearly coincides with this ceiling. The RSI at 43 remains neutral, with no marked reversal signal. Over three months, the stock is still down by 28.85%.
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The fundamental context remains marked by the divestiture of the Interiors business to the Apollo fund, valued at €1.82 billion and announced at the end of April. The transaction is part of the group's refocus on higher value-added activities and aims at reducing debt.
In the first quarter, the group posted a revenue of €5.135 billion, down 2.2% at constant exchange rates, but with an outperformance of 120 basis points compared to a global automotive production decline of 3.4%. The European automotive sector remains exposed to the surge in Brent crude, which is trading around $108 per barrel according to Reuters, and to an ECB that kept its rates at the end of April while signaling increased risks to growth.
Regarding the schedule, the general assembly is set for June 4, followed by the half-year results on July 31 and the third quarter revenue on November 2.
Le premier trimestre a marqué le lancement de notre plan IGNITE...
FORVIA a enregistré une bonne dynamique de prises de commandes.
Risks mentioned
Pressions inflationnistes sur les coûts de production.
Incertitude persistante sur les volumes dans le contexte de la crise au Moyen-Orient.
Mix clients défavorable dans l’activité Seating en Chine.
Opportunities identified
Nouveaux contrats remportés en Inde pour soutenir la dynamique commerciale.
Accélération du développement commercial dans les pays à forte croissance.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
