April 29, 2019 / 11:25 AM / 5 months ago

BUZZ - Sogefi down after results, stock fairly valued

** Shares in Italian car parts maker Sogefi down 1 pct after disappointing results, with analysts saying the stock is fairly valued despite a big discount to its peers

** Sogefi posted a fall in Q1 revenues and net profit and said it expected sales to drop in Q2

** A very low visibility on second half of 2019 enhances the risk of consensus downside on full year 2019, according to Banca Imi analyst, Monica Bosio

** EV/Ebitda ratio is at 2.8, compared with an average of around 5 among car part makers, a second analyst says. But there is no reason to rise the current “hold” rating, in part because of the company’s low exposure to the electric car business

Reporting by Stefano Rebaudo ;

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