Peugeot: Invest Securities downgrades rating
(CercleFinance.com) - Invest Securities has downgraded its rating on the Peugeot share to neutral (from buy), with a target price of 16.
20 euros (vs. 16 euros).
Analysts believe that its H1 2020 publication provides a numerical illustration, which exceeds expectations, of the group's remarkable agility and resilience, formatted to weather crises and market chaos, while maintaining positive profitability.
The 2020 market guidance has confirmed a decline of 25% in Europe, although this should not prevent the group's EBITA margin from recovering above the average minimum (reiterated) 2019/21 guidance of 4.5%, analysts say.
They add that they have reduced their EPS estimates due to a downgraded 2020/22 revenue scenario (-7.4%/-27%/-27% respectively), Invest Securities adds.
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