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Deutsche Bank reiterated a Buy rating and $126.00 price target on Aptiv (NYSE:APTV) after adding the automotive tech supplier to their short-term Catalyst Call Buy List ahead of the company’s 4Q22 earnings release as well as the company’s 2023 guidance initiation. Aptiv will also be participating in a Capital Markets Day in February.
Deutsche Bank analysts believe that the company’s 4Q operational environment has played out largely as expected, and expects Aptiv to deliver in-line earnings for the quarter, enabling it to hit the high-end of its guidance for the year.
Beyond the quarter, they expect that APTV may outline some conservative targets for 2023, inline or below street estimates, but based on conversations with investors, they believe this is well understood and not as impactful as originally thought.
They wrote in a note, “We see the nearest-time potential catalyst occurring from next month with its earnings day, when the company could meet 4Q street earnings expectations and outline guidance for 2023. Should the stock price weaken on guidance, we would view it as an opportunity to add to long position. Following earnings, the next (more meaningful) catalyst will be in February when the company hosts its CMD where we expect more clarity on the EV portfolio and margin trajectory over the coming years.”
Shares of APTV are up 2.56% near end of day trading on Monday.
