Renault: a 'difficult' summer newsflow - Oddo cuts target
(CercleFinance.com) - Retaining what he calls a difficult newsflow over the summer, an analyst at Oddo BHF today announces that he is cutting his target price for the Renault share, from 120 euros to 110 euros.
However, the broker maintains its buy rating on the stock, saying that H1 results were sound in a difficult market environment.
There was a poor string of news over the summer, with the collapse of a number of emerging currencies and falls at some emerging markets - which was at times expected, or which may have already begun (post price increase) .On the contrary, volume growth in Europe at the end of August is stronger than expected (this is where the group makes the highest profits), although a decline is expected in Q4, even though its magnitude is difficult to predict (post WLTP effect), the broker explained.
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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.
However, the broker maintains its buy rating on the stock, saying that H1 results were sound in a difficult market environment.
There was a poor string of news over the summer, with the collapse of a number of emerging currencies and falls at some emerging markets - which was at times expected, or which may have already begun (post price increase) .On the contrary, volume growth in Europe at the end of August is stronger than expected (this is where the group makes the highest profits), although a decline is expected in Q4, even though its magnitude is difficult to predict (post WLTP effect), the broker explained.
Copyright (c) 2018 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.