(CercleFinance.com) – The stock is up nearly 1.6%. Stifel reaffirms its ‘buy’ recommendation on Renault, but lowers its price target from 55 to 41 euros, in the wake of a 31% reduction in its sequence of estimated EPS for 2022-24 before the half-yearly publication, July 29 .
In addition to its reduction in estimates, the broker justifies the lowering of its price target by a reduction in multiple sector valuations, and above all by the impact of the exit of the French car manufacturer from Russia.
“With the recession scenarios looming, execution should be put to the test,” warns Stifel, who nevertheless sees a positive dynamic for the file in the months to come, pointing in particular to the investor day scheduled for this fall.
Jefferies also indicates that it is buying on the stock with a price target of 40 E.
‘Excluding Russia, we expect H1 sales of €20.7 billion (of which Autos: €19.2 billion) with EBIT of €600 million (of which €40 million euros for Autos) Indicates the analysis office.
Jefferies estimates that the deconsolidation of Russia should improve net debt by 500 million euros.
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