Renault: Invest Securities still a buyer, raises target
(CercleFinance.com) - Invest Securities reiterates its "buy" rating on the Renault share, having nudged its corresponding target price up from 27 euros to 28 euros, after three meetings from which it appears that the new organisation of the Alliance should give rise to strong hopes of a rebound.
The analyst notes however, that Nissan's losses have weighed on the group, even though its savings plan, which it has largely provisioned for (five billion euros!) should convince, with a guidance of a 5% EBITA margin in 2023/24.
In the end, Renault's announcements have appeared incomplete because they were limited to the savings plan. For the details of its strategy and guidance, we will have to wait for the arrival of the new CEO and his comments - probably towards the end of 2020, the analyst continued.
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