Renault: Oddo confirms its advice on the title


(CercleFinance.com) – Oddo maintains its ‘outperformance’ rating for Renault shares, with an unchanged target price of 55 euros.

The analysis office is convinced that after the success of the manufacturer’s operational turnaround (operating profit >5% and FCF >1.5 MdE this year), the product offensive launched this year should allow it to reach a new milestone, as in the new financial targets bear witness to this (>20% higher than the consensus).

Oddo is therefore counting on a further increase in results and FCF in 2023.

The broker evokes ‘a promising and still largely underestimated financial trajectory’ and highlights the profile ‘unique and not comparable to players like Stellantis or VW’.

‘ It therefore seems relevant to us for the manufacturer to work on a different organization and the responses provided (Horse, Ampère and even more broadly the organization in 5 poles) seem to us capable of creating value for the shareholders, subject to ‘good execution’, he concludes.

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