Renault: Invest Securities raises target price
(CercleFinance.com) - Invest Securities reinstates its "buy" rating on the Renault share, which it maintains as a best pick (in its "IS selection"), having increased its corresponding target price from 32.
3 euros to 43.6 euros (40% upside potential), even after the 38% rise in the car maker's share price since 9 November.
The broker explains that this increase results from a sector rotation that has benefited Renault, the publication of reassuring Q2 results, Nissan's increased guidance and the publication of Renault's October sales.
The analyst says that while long-term guidances are yet to be announced (January 2021), our cautious scenario provides leeway for a pleasant surprise relative to these guidelines that are still unknown.
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