Renault: Stifel still a buyer

(CercleFinance.com) - Stifel maintains its buy rating on Renault shares, along with a target price of 48 euros (current price: over 34 euros -0.
6%).

Renault remains the 'wild card' in the broker's OEM automotive space, the analyst begins, noting, that order intake continues to increase and the order book is increasing.

The broker still believes that execution and mix are understated: operating margins should exceed expectations in 2022 and continue to grow in 2023.

With major triggers ahead, Alliance reshuffle, FY22 print and its above-consensus expectations, we believe the revaluation is just beginning, the analyst concludes.



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