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Renault: remains a best pick for Invest Securities

(CercleFinance.com) - Invest Securities has reinstated its "buy" rating for the Renault stock, keeping it in its best pick list, raising its target price from 124 euros to 127 euros with group announcing a sharp increase in net cash.

The broker's analysts believe that this increase further underlines the car maker's undervaluation, which has also reported 2017 results that exceed the consensus and its expectations.

Invest Securities has marginally modified its estimates, taking into account Renault's caution, particularly regarding its 2018 EBITA margin, which is potentially down, although has noted that the group has reiterated the targets of its "Drive the future" plan.

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