Renault: Bryan Garnier raises target price
(CercleFinance.com) - In a report on both the French car makers Bryan Garnier has reinstated its "buy" rating on the Renault stock and has raised its fair value from 109 euros to 112 euros, saying that it prefers the stock to its peer PSA.
The broker expects average annual EPS growth of 10% for Renault over 2018-20, against 18% for its competitor PSA, which it explains is particularly due to the consolidation of Opel and the performance of Faurecia.
The broker said that “Renault is still better positioned than PSA to play growth in emerging markets and the rise of BEV in Europe and in China but see less uncertainty at PSA following negotiations with Opel's German unions.”
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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 broker expects average annual EPS growth of 10% for Renault over 2018-20, against 18% for its competitor PSA, which it explains is particularly due to the consolidation of Opel and the performance of Faurecia.
The broker said that “Renault is still better positioned than PSA to play growth in emerging markets and the rise of BEV in Europe and in China but see less uncertainty at PSA following negotiations with Opel's German unions.”
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.