Faurecia has lost more than 3% under the weight of a double recommendation downgrade by Jefferies, from 'buy' to 'underperform', on the automotive equipment supplier's shares, with a price target lowered by 32% to 15 euros.

We believe that the market is overconfident in suppliers' ability to cope with higher-than-normal cost inflation", says the broker in a note devoted to Europe's leading automotive suppliers.

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