Renault: 'less favourable' results, but Oddo still a buyer

(CercleFinance.com) - Renault's "much less favorable" H2 published results have not prevented Oddo BHF from remaining optimistic about the share of the French car make.
In a note published on Friday, the broker reiterates its "buy" rating on the stock, along with a target price of 100 euros.

There are two preliminary reasons for this "indulgence": these results are also partly due to a certain deterioration of the environment, and they are exceed the consensus in terms of OP and FCF. Oddo BHF also appreciates that investors' fears about the Alliance and its future have dissipated: "Management is reassuring about the working of the Alliance (no project delayed or at a standstill) and its future. 'Alliance' (a key asset for both groups). Management says that it continues to work to make the Alliance irreversible."

Oddo BHF has a target price of 100 euros for the share, which means upside potential upside of around 74%.



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