Renault: Deutsche Bank on hold but raises TP

(CercleFinance.com) - On Monday Deutsche Bank announced that it has raised its target price for Renault shares from E50 to E55, saying that it expects "decent" H1 results on 25 July.


The analyst, who is maintaining his "hold" recommendation on the stock, says he has raised his forecasts for the automotive group in view of a slight rise in Q2 sales, due to the good performance of the financial services business.

In terms of earnings, the broker says that it expects a positive contribution from lower raw material prices and recent supply enrichment, although negative currency effects and an unfavourable volume impact.

Overall, Deutsche Bank says it expects "solid" FCF in H1, with full-year targets expected to remain unchanged.


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