Fly News Breaks for January 6, 2020
Jan 6, 2020 | 08:06 EDT
Jefferies analyst David Kelley upgraded Gentex to Buy from Hold with a price target of $37, up from $27, as he expects inflecting sales growth in 2020 for what he calls "the dominant advanced mirror supplier." Driver-assist headwinds should be less impactful from here while the company's "secularly well-positioned" Full Display Mirror hybrid interior mirror/camera continues to ramp to scale, said Kelley, who identifies the stock as a Franchise Pick. He also believes Q4 of 2019 could be the trough quarter for Gentex's industry-leading gross margins and sees upside to consensus margin estimates, Kelley tells investors.
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