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Renault: Invest Securities raises target price

(CercleFinance.com) - The broker has nudged up its 2021 EPS estimate due to Nissan, despite the 0.
5-pt reduction in the group's EBITA margin.
Analysts have raised their target price for the share to 55 euros (from 53 euros), while confirming their buy rating on the stock. Renault remains in Invest-Securities' best pick list.

Analysts say that after its H1 21 results, they can conclude that despite FCF that remains very weak, the results - which have become positive once again - have exceeded expectations, albeit without reaching their estimate for an EBITA margin, which would enable the group to reiterate its level in H2 2020 (3.5%).

The broker still considers that group's 2021 EBITA margin guidance of 2.8% as conservative. The group has therefore confirmed its return to a better situation, backed by Nissan, which has recently raised its guidance, Invest Securities adds.

The Renault share is currently up about 2.8% at just shy of 33 euros.


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