(CercleFinance.com) – The title fell -5% this morning after losing -9.2% yesterday. Invest Securities confirms its advice on buying the security but lowers its price target to 26.7 E (against 28 E).
Analysts believe that the stock has crossed a delicate moment (-9.2% yesterday) with the publication of historic losses, group share in the first half of 2020 of -7.2bn, amplified by Nissan whose contribution is -4.8bn .
‘This means that, excluding Nissan, Renault’s net income is close to -2.5 billion euros with an EBITA of -1.2 billion euros and an EBIT of -2 billion euros. The FCF of -6.3bn pushes the financial debt to 5bn ‘indicates Invest Securities.
‘Without quantified guidance for 2020 and while awaiting details of the’ De Meo ‘strategy with, however, a few avenues unveiled on brands, engines and’ footprint ‘, our BNA 2020 / 22e confirms the recovery but are lowered, including the low visibility Q4 2020 and the outlook for the Auto 2021/22 market weaker ‘adds the analysis office.