07:55 AM EDT, 05/02/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target by $15 to $110, based on a '25 P/E of 14.9x, a discount to APTV's 10-year mean forward P/E of 24.4x. We raise our adjusted EPS estimates to $6.00 from $5.85 for '24 and to $7.40 from $7.35 for '25. APTV posts Q1 adjusted EPS of $1.16 vs. $0.91 (+27%), well ahead of the $1.00 consensus. The beat was driven by much stronger-than-forecasted margins, as revenue rose 1.7% to $4.90B ($90M below consensus) and adjusted operating margin expanded 200 bps to 11.1%. APTV raised full-year EPS guidance to $5.80-$6.30 from $5.55-$6.05, ahead of the current consensus of $5.67. Following the beat and raise, we reiterate our Strong Buy opinion, seeing EPS growth potential to $10+ over the next few years, supported by its record new business awards of over $34B in 2023. It's clear that the market has re-rated the stock over the past few quarters, judging by its recent underperformance (-4% in 2023 and -22% YTD). As a result, APTV's valuation screens as the most inexpensive it has been in years.