Thursday, May 07, 2026
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Growth Avenue. In Electrical Systems, CVG continues to pursue a differentiated solutions strategy, positioning the Company to increase content per vehicle. For example, due to the redundant nature from a safety perspective, the electrical content in an autonomous vehicle is almost double that of an ICE vehicle. This provides CVG with a significant growth opportunity, in our opinion. Similarly, in CVG’s legacy markets, as vehicles develop more content for either autonomous operation or feature comfort additions, that increases the content per vehicle.
End Markets. CVG’s key end markets, Electrical Systems and the Class 8 truck market, are showing signs of improvement. Management continues to expect the Electrical Systems market to expand by more than 10% in 2026. The Class 8 truck market is projected to grow by 9% in 2026, with recent orders suggesting the possibility of even greater growth.
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