Renault: BofA still a buyer
(CercleFinance.com) - BofA says it remains "positive" on the Renault stock, a week after resuming its coverage, with a buy recommendation.
In a research note, the broker believes that the messages recently expressed by Renault are relatively reassuring.
The broker appreciates encouraging signs in sales volumes in emerging markets in May, a key point as they represent almost 40% of Renault's sales.
The analyst welcomes comments made by the group's new CEO, for whom Renault could well emerge as a "surprise" beneficiary from the crisis, a view that BofA seems to agree with.
It maintains its target price of 27 euros: the share is currently jumping over 7% at more than 22.5 euros).
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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.
In a research note, the broker believes that the messages recently expressed by Renault are relatively reassuring.
The broker appreciates encouraging signs in sales volumes in emerging markets in May, a key point as they represent almost 40% of Renault's sales.
The analyst welcomes comments made by the group's new CEO, for whom Renault could well emerge as a "surprise" beneficiary from the crisis, a view that BofA seems to agree with.
It maintains its target price of 27 euros: the share is currently jumping over 7% at more than 22.5 euros).
Copyright (c) 2020 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.