(Boursier.com) — Renault fell 1.5% to 35.75 euros this Friday, while Berenberg adjusted the slider from 49 to 47 euros on the file while remaining a purchase. In addition to the Munich motor show which has just closed its doors, the news surrounding the manufacturer was marked by rumors surrounding the upcoming IPO of Ampère as well as several analyst notes. ‘Neutral’ on the issue, Exane BNP Paribas adjusted its target to 41 euros, while Grupo Santander revalued the stock to 74.7 euros (‘outperform’).
More cautiously, a few days ago, UBS had on the contrary downgraded the manufacturer’s title to ‘sell’ by cutting its target from 42 to 31 euros. The bank explained that Renault’s financial performance could remain solid in the coming quarters, perhaps even with “positive surprises”, but that most indicators were no longer improving… The ‘historic’ manufacturers are the most threatened by growing Chinese competition and by You’re here, added the broker. The Ampere IPO does not really seem likely to unlock significant value, the specialist further estimated…
The market is mostly positive on the diamond group since, according to the market consensus, 16 analysts are ‘buy’, 5 are ‘hold’ and 3 are ‘sell’. The average twelve-month objective is set at 51.35 euros.
©2023 Boursier.com