Barclays analyst Brian Johnson downgraded Visteon to Equal Weight citing the 19% year-to-date rally in the shares as well as increased risk from near-term production cuts. The stock "may be due for a breather," Johnson tells investors in a research note. He raised his price target for the shares to $85 from $83.

Sees 2024 adjusted EBITDA $470M-$500M and adjusted free cash flow $155M-$185M.

Reports Q1 revenue $933M, consensus $977.87M. "Our first quarter results highlight our continued progress on addressing the megatrends of digitalization and electrification that are rapidly changing the automotive industry. I am very proud of our continued operational execution and launching a high number of new products across the globe to support our customers and deliver near-term growth," said CEO Sachin Lawande. "We are also strengthening our future with another strong quarter of new business wins across our digital cockpit products while further diversifying into adjacent end markets."