Peugeot: Oddo ups its 2017 forecasts.
(CercleFinance.com) - Oddo confirms its “buy” rating on the share as well as the 25-euro price target following the announcement of positive results for the first half of 2017.
The analyst firm considers that PSA is once again reporting impressive performance for the first half of the year, far exceeding expectations.
“Growth in the automotive business is largely down to the improvement in the product mix (+4.9%) linked to the success of the new models launched in the second half of 2016 (LCVs, 3008 and C3),” underlines Oddo.
Following this publication, Oddo reviewed its 2017 operating profits forecasts upwards (+7% to 3,691 million euros against 3,449 million euros previously) as well as the group share of net profits (+15% to 1,932 million euros against 1,679 million euros).
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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.
The analyst firm considers that PSA is once again reporting impressive performance for the first half of the year, far exceeding expectations.
“Growth in the automotive business is largely down to the improvement in the product mix (+4.9%) linked to the success of the new models launched in the second half of 2016 (LCVs, 3008 and C3),” underlines Oddo.
Following this publication, Oddo reviewed its 2017 operating profits forecasts upwards (+7% to 3,691 million euros against 3,449 million euros previously) as well as the group share of net profits (+15% to 1,932 million euros against 1,679 million euros).
Copyright (c) 2017 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.