Renault: Oddo seduced by likely Bolloré and Senard tandem
(CercleFinance.com) - An analyst at Oddo BHF says that the probable appointment, announced in the Echos this morning, of Jean-Dominique Senard and Thierry Bolloré as Chairman and CEO of Renault would only be advantageous for the group, with Carlos Ghosn being on the verge of resigning so as not to hamper the group's continuation.
Indeed, a board of directors meeting will be held tomorrow morning within the Renault group.
Jean-Dominique Senard has a very good track-record at the helm of Michelin (...) He has demonstrated that he has a strong social skills, having contributed to improving the relations with the group's workforce and pacifying relations with Michelin's trade unions (a presupposition for Renault). He has proven negotiating skills that will be important to resume a peaceful dialogue with the Nissan's directors. Finally, he has trust from the French authorities, which have entrusted him with different missions, the broker says.
At this stage of developments in Renault's governance, Oddo maintains its “buy” rating on the Oddo stock, along with its target price of 100 euros, which suggests strong upside potential of around 76%.
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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.
Indeed, a board of directors meeting will be held tomorrow morning within the Renault group.
Jean-Dominique Senard has a very good track-record at the helm of Michelin (...) He has demonstrated that he has a strong social skills, having contributed to improving the relations with the group's workforce and pacifying relations with Michelin's trade unions (a presupposition for Renault). He has proven negotiating skills that will be important to resume a peaceful dialogue with the Nissan's directors. Finally, he has trust from the French authorities, which have entrusted him with different missions, the broker says.
At this stage of developments in Renault's governance, Oddo maintains its “buy” rating on the Oddo stock, along with its target price of 100 euros, which suggests strong upside potential of around 76%.
Copyright (c) 2019 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.