![Actualite financiere : Actualite bourse](/img/photos/photo//855472000_35.jpg)
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.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
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.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.