(Boursier.com) — Disturbed in the middle of the week by the announcement of the partial exit of the Belgian State from its funding round, Renault rises 1% this Friday to 42.85 euros. The first shareholder of the bank announced on Tuesday evening that it had launched the sale of a third of the capital it holds in the establishment on boulevard des Italiens, an operation which could bring in some 2 billion euros to the Belgian State. This sale, driven by the accelerated constitution of an order book with qualified investors, will reduce the Belgian State’s stake from 7.8% to around 5.1% of the capital.
Belgium entered the capital of BNP Paribas in 2008 following the rescue plan for the Belgian financial group Fortis, taken over by the French bank.
The Belgian State is the leading shareholder of BNP Paribas, ahead of the funds Amundi and the American BlackRock which respectively hold 7% and 6% of the bank’s capital… Among the latest brokers’ opinions, HSBC raised its price target from 42.5 to 47 euros while market trends have gradually improved since the end of 2022. The “premium” strategy continues to bear fruit and will continue to ramp up in 2023 and 2024.
The automotive group published last week a net loss group share of 338 million euros for the 2022 financial year, due to its exit from the Russian market, but at the same time announced an improvement in its operational performance and the return of a dividend… Recall that Renault had returned in 2021 with a profit of 888 million euros, a figure restated for Russian activities, after two years in the red and a historic loss in 2020.
The operating margin thus climbed to 5.6% for the past year, against 2.8% in 2021, and is aiming for at least 6% in 2023.
After three years without a dividend, the car manufacturer will therefore also propose the payment of a dividend of 25 euro cents per share..
Analysts continued to adjust their forecasts after these quantified announcements: Berenberg revalued the stock from 43 to 49 euros with a “buy” notice, Invest Securities raised its price target to 60 euros (‘buy’), Citi raised its target to 48 euros while remaining ‘neutral’, SocGen raised its target to 49 euros (‘hold’) and Kepler Cheuvreux raised its target to 46 euros (‘hold’).
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