Renault: Berenberg upgrades stock
(CercleFinance.com) - On Wednesday Berenberg upgraded its rating on Renault shares from "hold" to "buy", increasing its target price for them from 27 euros to 34 euros.
The analyst acknowledges that the carmaker cannot control the consequences of the European energy crisis on the economic situation, but believes that it is perfectly capable of creating value for its shareholders by implementing specific initiatives at the group level.
Two years of flawless execution have finally caught the attention of the most skeptical, although this has yet to be reflected in the intrinsic value of the share, analysts point out.
Given the continued flawless execution of the Renaulution plan, as demonstrated by its strong H1 results, the broker believes that the share price should now benefit from sequential volume improvement and a relatively resilient product mix, it concludes.
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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 analyst acknowledges that the carmaker cannot control the consequences of the European energy crisis on the economic situation, but believes that it is perfectly capable of creating value for its shareholders by implementing specific initiatives at the group level.
Two years of flawless execution have finally caught the attention of the most skeptical, although this has yet to be reflected in the intrinsic value of the share, analysts point out.
Given the continued flawless execution of the Renaulution plan, as demonstrated by its strong H1 results, the broker believes that the share price should now benefit from sequential volume improvement and a relatively resilient product mix, it concludes.
Copyright (c) 2022 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.