Peugeot Invest: Degroof Petercam upgrades to buy

(CercleFinance.com) - Degroof Petercam announced on Tuesday that it had upgraded Peugeot Invest shares from 'hold' to 'buy' following the publication of the quarterly results of the Peugeot family holding company.


In addition to a performance in line with its expectations, the Belgian investment house highlights the 'massive' discount at which the stock is trading.

We believe that the correction in the share price has gone too far, especially in view of the positive H1 results, the arrival of a new CEO with extensive private equity experience, and the professionalization of the investment company, Degroof Petercam says.

For the Brussels-based firm, Peugeot Invest thus embodies a genuine value stock (heavily discounted in view of its fundamentals); its E120 target price represents over 60% upside potential.


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