Peugeot: Oddo confirms rating before sales released.

(CercleFinance.com) - Oddo maintains its buy rating on the Peugeot stock before the group unveils its Q1 sales figures.

The broker sticks to its target price of 23 euros.

PSA will publish its Q1 2017 sales before the market opens next Wednesday. Oddo's analysts expect them to rise by 4.3% to 13,554 million euros, with the group having already published 9.4% growth for Faurecia, along with an expected 1.3% increase in Automobile sales at 8,912 million euros.

Oddo says in its daily research report that in 2017, we should see a steady acceleration in sales and earnings of the Auto business, which is related to: (i) the development of new models and particularly, (ii) increasingly favourable mix-product effects.

Analysts are expecting a +3.2% increase in operating income at the Auto division in 2017 to 2,297 million euros (6.0% of sales), with a 2% decline in the first half and an 11% increase in the second half.


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