Renault: Invest Securities raises target price

(CercleFinance.com) - Invest Securities has reinstated its "buy" rating on the Renault share, maintaining it in its "IS selection", having increased its corresponding target price from 43.
6 euros to 47.7 euros, representing upside potential of 35%, the day after the car maker's strategic presentation.

Judging the guidelines quantified by Renault for 2023 and 2025 as cautious and above all possible to exceed, the broker says that its scenario has not, as hoped, been raised, although has not been reduced for 2021/22.

Moreover, in terms of DCF valuation, its medium- and long-term assumption of an EBITA Auto margin (excluding RCI) is 4%, and therefore in line with the group's margin guidance of over 5% from 2025, analysts continue.


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