Renault: BarCap downgrades stock
(CercleFinance.com) - Barclays Capital (BarCap) has downgraded its rating on the Renault stock to "weight in line" with a target price reduced to 83 euros, expressing concern about the Renault's exposure to emerging markets.
The broker points out that the group's Q3 revenues fell by 6%, penalised by a substantial headwinds from FX factors and a fall in demand in Argentina and Turkey.
In addition, Renault has suffered from temporary stock reductions at dealers, related to the new WLTP standard, the broker continues, although points out that Renault management has confirmed its full-year targets.
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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 broker points out that the group's Q3 revenues fell by 6%, penalised by a substantial headwinds from FX factors and a fall in demand in Argentina and Turkey.
In addition, Renault has suffered from temporary stock reductions at dealers, related to the new WLTP standard, the broker continues, although points out that Renault management has confirmed its full-year targets.
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.