Renault: Mainfirst still on hold

(CercleFinance.com) - With Renault having recently presented its medium-term strategy for electric vehicles, Mainfirst maintains its "hold" rating on the share, with a target price of 22 euros (current price: -2% at 23.
4 euros).

While the volumes announced by the Alliance concerning electric vehicles are rather modest (nearly six times lower than those of Volkswagen), Mainfirst analysts say, "we understand that "cost reduction targets to achieve a certain profitability" are set at a much lower level".

In addition, the group is confident to (over-)achieve its CAFE target in 2020.

In addition to the Zoé and Twingo E, two new electric vehicles are expected to complete the group's range from 2021, with the Spring (Dacia) and the Megan E in 2022.


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