Renault: Invest Securities still a buyer, ups target price
(CercleFinance.com) - While raising its target price for the Renault share from 102 euros to 105 euros, Invest Securities confirms its "buy" rating, given the "value" that could result from developments in the group's situation regarding Nissan.
The broker notes that the group published quarterly sales that are in line with the consensus, its expectations and, according to Renault, slightly ahead of its internal business plan, while also announcing an unchanged guidance for 2019.
After Nissan's profit warning, Invest Securities has reduced its 2018/21 EPS and dividend estimates, although these changes have not affected its target price, with the broker still underlining that the share is heavily undervalued, with the broker including it in its list of best picks.
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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 notes that the group published quarterly sales that are in line with the consensus, its expectations and, according to Renault, slightly ahead of its internal business plan, while also announcing an unchanged guidance for 2019.
After Nissan's profit warning, Invest Securities has reduced its 2018/21 EPS and dividend estimates, although these changes have not affected its target price, with the broker still underlining that the share is heavily undervalued, with the broker including it in its list of best picks.
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.