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Veoneer (VNE) Catches Eye: Stock Jumps 8.7%

Veoneer, Inc. VNE was a big mover last session, as the company saw its shares rise nearly 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 34.9% in the past one-month time frame.

The move came after the company announced an alliance with Qualcomm for advanced driver assistance systems.

The company has seen no estimate revision in the past month, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Veoneer currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

A better-ranked stock in the Automotive – Original Equipment industry is BRP Inc. DOOO, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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