Renault: Oddo raises estimate for Nissan contribution.
(CercleFinance.com) - Oddo maintains its buy rating on the Renault stock, after the announcement of the contribution made by Nissan.
The broker maintains its target price at 115 euros.
Following the publication of Nissan's Q2 results, Oddo has raised its estimate for the contribution made by Nissan, accounted under the equity method in Renault's 2017 accounts.
Nissan's contribution for Q2 2017 (corresponding to Renault's Q3) was amounted to 469 million euros, while Oddo was expecting less, at 358 million euros. For FY 2017, Oddo has increased its estimate for this contribution to 2,160 million euros, against 2,079 million euros previously.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.