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Fly News Breaks for June 26, 2018
THRM
Jun 26, 2018 | 08:27 EDT
B. Riley FBF analyst Christopher Van Horn raised his price target on Gentherm to $50 from $45 and reiterated a Buy rating on shares after the company's "compelling" investor day that provided additional insight into the CEO's goals for the company and its technology portfolio. In a research note to investors, Van Horn says he sees a possible path to $70 per share based on management's 2021 targets, and sees a compelling long-term upside case for Gentherm shares. Van Horn believes the company's FY18 outlook was trimmed based on factors he feels are beyond the company's immediate control like freight costs and raw materials, but expects plenty of focus on growth in the medium-term.
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