Following yesterday's investors' meeting, UBS confirms its Buy recommendation on the stock, with a target price of E26, representing a potential upside of 32%.

Product momentum and resource allocation are outweighing inventory reduction in North America", says UBS.

The automotive group has confirmed its target of a "double-digit" adjusted operating margin this year, accompanied by positive industrial free cash flow.

The first half of the year should therefore see an operating margin of around 10%-11%, with a significantly lower industrial free cash flow than last year.

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