Peugeot: Oddo confirms rating and target price
(CercleFinance.com) - Oddo confirms its buy rating on the Peugeot share, along with its target price of 29 euros, after an investor breakfast with Maxime Picat, EVP Operational Director Europe, member of PSA group's management board.
The broker says that the group has key strengths, such as its great flexibility, the sharp reduction in its breakeven point (havled between 2013 and 2018 to 1.3m units excluding Opel; 2m with Opel), and a strong discipline in terms of price and capex.
Oddo believes that while PSA has reached its targets for most of its brands (except for Opel, which remains 4.6% below its benchmark), it will still continue with its efforts.
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