Renault: remains a best pick for Invest Securities
(CercleFinance.com) - Invest Securities maintains the Renault stock as one of its best picks, maintaining its "buy" rating and target price of 127 euros, despite Friday's publication of quarterly sales that were 5% below the consensus.
However, there is no danger in the results, with Renault justified in maintaining its 2018 guidance unchanged, said the analyst, who is maintaining 2018/20 estimates "in line with the plan entitled "Drive the future," towards total revenues of 70 billion euros and a margin of 7% in 2022.
The analyst continued, saying that the broker is maintaining its target price, underlining that the stock remains undervalued, he continues, saying that this publication and statements made by Nissan's chairman and CEO, that he does not see any interest in a Renault-Nissan merger between the groups, explain the -3.15% fall on Friday.
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.
However, there is no danger in the results, with Renault justified in maintaining its 2018 guidance unchanged, said the analyst, who is maintaining 2018/20 estimates "in line with the plan entitled "Drive the future," towards total revenues of 70 billion euros and a margin of 7% in 2022.
The analyst continued, saying that the broker is maintaining its target price, underlining that the stock remains undervalued, he continues, saying that this publication and statements made by Nissan's chairman and CEO, that he does not see any interest in a Renault-Nissan merger between the groups, explain the -3.15% fall on Friday.
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.