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Renault: Oddo BHF slashes target price

( - An analyst at Oddo BHF this morning confirmed his "neutral" recommendation on the Renault share, saying that it is still too early to play a potential recovery story.

Above all, the broker has slashed its target price for the share from 61 euros to 40 euros. Even so, this new target price, although a lot lower, still suggests upside potential of 16%.

Although Oddo is not questioning the reality of cost savings suggested by management, which will be detailed next May, it believes that it is still too early to play this story, as visibility remains very low and the group's operational and financial situation has not yet stabilised, as evidenced by its 2020 outlook, the broker says after the publication at the end of last week, of its 2019 results.

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