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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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