Renault: Oddo BHF slashes target price
(CercleFinance.com) - 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.
Copyright (c) 2020 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.