Delfingen continued its upward trend on Tuesday, gaining nearly 4%, bringing to almost 8% its gains since Friday evening and the presentation of its first-half results.

Following this publication, Euroland reiterated its buy recommendation on the automotive equipment supplier's share in the morning, while raising its target price from 62 to 67 euros.

In its note, the brokerage firm points out that the specialist in on-board network protection and fluid transfer has once again exceeded its expectations, unveiling half-year results of 'very good quality'.

Euroland points out that Delfingen has also revised upwards its current operating margin forecast for 2023, now expected at 6.5% compared with 6% previously.

Its analysts also point out that the share is currently trading at eight times their current operating income estimate for 2023, compared with 11x for the sector as a whole.

Copyright (c) 2023 All rights reserved.