Favorable Sector Outlook Bodes Well for Visteon (VC)

Visteon Corp (NASDAQ:VC) is one of the best Auto Parts stocks according to Hedge Funds.

On January 15, Goldman Sachs analyst Mark Delaney reiterated his Buy rating on Visteon Corp (NASDAQ:VC), while lowering the price target from $130 to $120. The revised target leads to an upside potential of almost 30% at the current level.

Delaney’s rating is based on recent data for auto sales, along with growth expectations for the coming year. Projections remain favorable for the sector amid comments from various suppliers during the last quarter’s conferences.

On January 14, Luke Junk from Robert W. Baird also maintained an Outperform rating on Visteon Corp (NASDAQ:VC), while reducing his price target from $141 to $126. Despite the downward revision, Junk’s forecast yields an impressive 36% upside for investors.

Junk’s rating came at the back of Baird’s adjustments to vehicle technology and mobility stocks based on the fourth quarter earnings preview. The analyst noted certain headwinds related to supply chain disruptions.

Visteon Corp (NASDAQ:VC) is a leading automotive technology company, engaged in engineering and selling digital cockpit electronics, automotive electronics, and connected car solutions. With operations spanning across 18 countries, the company primarily serves vehicle manufacturers, offering instrument clusters, cockpit domain controllers, information displays, and infotainment solutions.

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Disclosure: None. This article is originally published at Insider Monkey.