Renault: Oddo provides quarterly forecasts

(CercleFinance.com) - Renault's sales improved further in September.

For September Oddo expects them to increase by 10.8% (+13.5% excluding China).

Analysts believe that this momentum should continue at least into Q4 2019: in Europe, the fall in sales exceeded 14% per month in Q4 2018.

Renault will publish its Q3 2019 sales before trading on 25 October. Oddo expects them to fall by 2.5% in Q3 to 11,192 million euros, or 5.3% over 9 months, to 39,242 million euros.

Before this publication, Oddo confirms its buy rating on the share, along with its target price of 90 euros.

Oddo says that it is reducing its estimates for 2019 - modestly in terms of operating profit (-1.8% to 3,242 million euros, vs. 3,300 million euros previously), although to a greater extent in terms of net attributable profit (-13% to 2,005 million euros vs. 2 306 million euros previously), because of Nissan.


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