09:00 AM EDT, 04/26/2024 (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 raise our 12-month price target by $2 to $40, based on a '25 P/E of 16.3x, a discount to GNTX's 5-year mean forward P/E of 18.4x. We maintain our adjusted EPS estimates of $2.20 for '24 and $2.45 for '25. GNTX posts Q1 adjusted EPS of $0.47 vs. $0.42 (+7%), in line with consensus. Revenue rose 7% to $590.2M ($9M below consensus) on higher prices, partially offset by a 2% decline in mirror shipments. Gross margin expanded 260 bps to 34.3% (80 bps above consensus). GNTX maintained 2024 guidance for revenue of $2.45B-$2.55B and gross margin of 34%-35%, respectively, versus the current consensus of $2.52B and 34.7%. We reiterate our Buy, seeing moderating costs driving margin improvement as GNTX moves toward its gross margin goal of 35%-36% by year-end 2024 and approximately $200M of revenue growth in 2025. We view the company's guidance as potentially conservative and view GNTX's strong balance sheet ($266M of net cash) and sub-industry leading gross margins as making it a best-of-breed auto supplier.