(Boursier.com) — Renault rose 1.1% to 35.70 euros to end a week full of announcements in the electrical sector, while Goldman Sachs adjusted its price target from 51 to 48 euros while remaining ‘neutral’. Oddo BHF gave him an update on the automotive group, and more particularly on Ampère, following the investor day. The analyst explains that the subsidiary dedicated to electric vehicles and software seems to have provided “convincing answers” regarding its positioning and its ability to stand out in an environment which should remain competitive… The path towards the IPO, aimed during the first half of 2024, still remains distant and it is not clear that it will ultimately be the one selected (management has reaffirmed its requirements), even if it remains clearly favored.
Nevertheless, the broker emerged reassured after this CMD that Ampère’s unique profile can make it an attractive asset for investors, including ESG and beyond the “traditional” automotive sphere, wishing to position themselves on a future player European leader in electromobility combining best-in-class growth prospects, robust fundamentals and positioning on the value chain that distinguish it from many peers.
Objectives displayed
The group’s objective is to achieve sales price parity between thermal and electric vehicles ahead of the competition thanks to a clear trajectory of cost reduction of 40% by 2027/2028 between the 1st and 2nd generation. of electric vehicles in the C segment, with a range of 7 vehicles in 2031 at the heart of the European market: Megane E-Tech, Scenic E-Tech, Renault 5, Renault 4, “Legend” and two additional vehicles.
Ampere is targeting average annual growth of 30% in its revenues between 2023 and 2031. From 10 billion euros in 2025 with 4 vehicles, Ampere will target more than 25 billion euros in turnover in 2031 with 7 competitive vehicles. ..
Note that Renault’s value has gained more than 5% over the past week.
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