
Renault: Jefferies sees good entry point
(CercleFinance.com) - Jefferies maintains its "buy" rating on Renault shares, along with its target price of E53, which represents a upside potential of 50%, with the broker saying that it sees a "good entry point" for the carmaker's stock.
"Concerns on banking stability and rates have understandably repriced shares lower with
equity markets again assigning no core value to the core business," he said.
Saying that it is more confident that "imagination and agility matter more than size" in the sector's transition, Jefferies sees "meaningful scope to improve earnings given still modest current levels".
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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.
"Concerns on banking stability and rates have understandably repriced shares lower with
equity markets again assigning no core value to the core business," he said.
Saying that it is more confident that "imagination and agility matter more than size" in the sector's transition, Jefferies sees "meaningful scope to improve earnings given still modest current levels".
Copyright (c) 2023 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.