(News Bulletin 247) – Oddo BHF maintains its ‘outperformance’ rating for Renault shares, with a price target raised from 55 to 60 euros.
Yesterday, the Losange announced that it is revising its outlook for 2023 upwards.
According to Oddo BHF, these elements ‘confirm that the fears were exaggerated and that the levers for improvement for the manufacturer remain largely underestimated, as evidenced by the scale of the expected upward revisions (> 25% at the level of EBIT 2023 for consensus).’
The analyst finds himself confirmed in his idea that the manufacturer is ‘well ahead of its objectives’ and that ‘the best is yet to come even though the product offensive is only in its infancy’.
In addition, ‘the CFO confirmed that the order book remained very solid (record level still anticipated at the end of June, 3-4 months) and also offered certainty for the first part of 2024’, concludes the broker.
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