Renault: Goldman Sachs still on hold

(CercleFinance.com) - Goldman Sachs says that the markets should underpin strong growth in European car manufacturers' profits in 2022/23.


Even so, the broker confirms its neutral rating on the Renault stock with a target price of 42 euros.

Global volumes continue to recover (GSe PC production +12.1%/+5.4%), with new and used car prices close to their highest levels and inventory levels remaining at historic peaks, analysts say.

Goldman Sachs says that in a rising production environment, they see the situation - at least in 2022 - somewhat unique.

Within the sector, analysts highlight BMW and Daimler (both buy). Meanwhile, amongst suppliers, they recommend Autoliv (buy), although point out that the company is not immune to raw material and redundancy issues.


Copyright (c) 2022 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.