Veoneer (VNE) was Downgraded to a Sell Rating at Kepler Capital

Veoneer (VNEResearch Report) received a Sell rating and a $19.00 price target from Kepler Capital analyst Thomas Besson on July 20. The company’s shares closed last Wednesday at $20.30, close to its 52-week low of $9.56.

According to TipRanks.com, Besson has 0 stars on 0-5 stars ranking scale with an average return of -5.0% and a 51.8% success rate. Besson covers the Consumer Goods sector, focusing on stocks such as Compagnie Générale des Établissements Michelin, Bayerische Motoren Werke Aktiengesellschaft, and Stellantis.

Currently, the analyst consensus on Veoneer is a Hold with an average price target of $22.67, representing an 11.7% upside. In a report issued on July 13, RBC Capital also maintained a Sell rating on the stock with a $19.00 price target.

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Based on Veoneer’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $419 million and GAAP net loss of $104 million. In comparison, last year the company earned revenue of $362 million and had a GAAP net loss of $233 million.

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Veoneer, Inc. engages in the design, development, sale, and manufacture of automotive safety electronics. It operates through the Electronics and Brake Systems segments. The Electronics segment consists of safety and restraint control systems product areas. The Brake Systems segment comprises of brake systems product area. Its products include advanced driver assistance systems and highly automated driving solutions with focus on autonomous driving. The company was founded on April 1, 2018 and is headquartered in Stockholm, Sweden.