Renault: Jefferies lowers target price
(CercleFinance.com) - Jefferies announced Monday that it has lowered its target price for Renault shares from E58 to E55, while maintaining a Buy recommendation on the stock.
In the wake of Nissan's latest results, which contribute to the French automaker's accounts, the American broker says it has lowered its EPS forecast for the group by 9%, as well as its dividend estimate by 19%.
The broker believes that if Renault considers itself undervalued on the stock market, a further sale of Nissan shares should be considered with a view to implementing share buybacks.
For the rest, Jefferies considers that the group's improved balance sheet structure, its lack of exposure to China and the USA, and its ambitious launch plan for 2025 are all factors making the stock attractive.
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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 decision-making aids 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.
In the wake of Nissan's latest results, which contribute to the French automaker's accounts, the American broker says it has lowered its EPS forecast for the group by 9%, as well as its dividend estimate by 19%.
The broker believes that if Renault considers itself undervalued on the stock market, a further sale of Nissan shares should be considered with a view to implementing share buybacks.
For the rest, Jefferies considers that the group's improved balance sheet structure, its lack of exposure to China and the USA, and its ambitious launch plan for 2025 are all factors making the stock attractive.
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 decision-making aids 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.