05:41 AM EDT, 07/21/2026 (MT Newswires) -- BofA Global Research resumed its coverage of D'Ieteren Group (DIE.BR) with a buy rating as it took note of potential areas of upside risk across the Belgium-based holding company. In a Monday note, analysts laid out their analyses of five scenarios, including margin upside at the group's Belron business and potential cash upstream of 3.6 billion euros by 2030, margin recovery at its aftermarket parts distributor business TVH, and prospective bolt-on mergers and acquisitions for Parts Holding Europe, or PHE, and TVH. "We set a [price objective] of EUR217 per share based on our sum-of-the-parts underpinned by a DCF for each of the five divisions and apply a 30% conglomerate discount. A potential Belron IPO could provide more valuation transparency. We calculate each 5pts of conglomerate discount is equivalent to a EUR15 impact on the share price," the research firm wrote. "Our Buy rating is supported by the robust financial characteristics of Belron, i.e. 2026E ROIC 45%, FCF conversion of c90% plus 6-7% organic growth trends."

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.