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 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
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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.
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.
