(Boursier.com) — Renault still outperformed the market on Tuesday thanks to a gain of 1% on the 30 euros. The automaker, which is lining up a 5th session of progress here, remains buoyed by its excellent half-yearly publication and the raising of its annual operating margin and free cash flow targets. The diamond group, engaged in a restructuring and strategic repositioning exercise, announced last Friday that it is aiming for an operating margin above 5% in 2022, against around 3% so far, and a higher operating free cash flow from the automotive industry. to 1.5 billion euros, versus positive previously.
In addition, while registrations of new cars in France fell by 7.06% on an annual basis in July, those of the Renault group (Renault, Dacia and Alpine brands) increased by 10.84%. According to data from the Automotive Platform, 107,547 private vehicles were registered in France last month.
On the analyst front, Morgan Stanley adjusted the cursor from 36 to 38 euros with an opinion to ‘overweight’. Credit Suisse had previously raised its target from 25 to 30 euros while remaining ‘neutral’, while Invest Securities (‘buy’) raised its target from 45.8 to 55 euros. The broker notes that the interim publication largely exceeded expectations while the 2022 guidance was raised after being revised downwards at the end of the first quarter. The discourse is now resolutely optimistic for the second half, supported by the new models and, in the run-up to the autumn CMD, on the organization of Renault’s electric activities with or without the active participation of Nissan…
.
©2022 Boursier.com