Renault: Oddo BHF confirms its outperform rating

(CercleFinance.com) - Oddo BHF maintains its Outperform rating on Renault shares, with an unchanged target price of 60 euros.


With the Losange group due to publish its quarterly results on 10/24 before trading, Oddo BHF is targeting sales of 10.4 billion euros (-0.8% on a reported basis), with negative volume dynamics largely offset by positive mix effects (mainly products).

The analyst is also revising his estimates, mainly to take into account the recent disposal of Nissan shares (494 ME for 195m shares), which resulted in a capital loss of 1.1 MdE impacting net income and EPS, but not the dividend.

Excluding these items, our revisions remain very modest (< 2%), and we are still in line with Group and consensus targets (adjusted EBIT, FCF)", the broker points out.

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