PSA: Invest Securities raises target price
(CercleFinance.com) - In a report issued this Friday, Invest Securities has raised its target price for the PSA share from 16.
5 euros to 17.2 euros, while maintaining its "sell" rating on the stock.
The conference following the publication of its 2017 results aimed to reassure Opel. This proved to be successful given the rebound in the share price, the broker pointed out, while the carmaker's FY results came in significantly above expectations - both in terms of the PCD margin (Peugeot Citroen DS, excluding Opel) and regarding Opel's losses.
Management's optimism has also prompted Invest Securities to raise its EPS estimates for 2018 and 2019 by 10.8% and 16.7% respectively, reflecting an effect stemming from changes in the group's comparison basis in 2017 and a more optimistic scenario for its PCD margin (6.5%, compared to 5.6% previously).
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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.
5 euros to 17.2 euros, while maintaining its "sell" rating on the stock.
The conference following the publication of its 2017 results aimed to reassure Opel. This proved to be successful given the rebound in the share price, the broker pointed out, while the carmaker's FY results came in significantly above expectations - both in terms of the PCD margin (Peugeot Citroen DS, excluding Opel) and regarding Opel's losses.
Management's optimism has also prompted Invest Securities to raise its EPS estimates for 2018 and 2019 by 10.8% and 16.7% respectively, reflecting an effect stemming from changes in the group's comparison basis in 2017 and a more optimistic scenario for its PCD margin (6.5%, compared to 5.6% previously).
Copyright (c) 2018 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.