Goldman analyst David Tamberrino initiated Visteon with a Buy and a $104 price target due to leverage to secular growth from increasing vehicle digitization and connectivity, a streamlined focus on cost take-outs that will drive EBITDA margin expansion, and a solid net cash position. The analyst views Visteon as a potential takeout target given interest by consumer electronics and tech companies in the fast-growing auto-tech sector looking for direct exposure to the human-machine interface and consolidating cockpit electronics.

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."