Deutsche Bank announced Monday that it has raised its target price for Renault from €50 to €55, saying it expects "decent" first-half results on July 25.

The analyst, who is maintaining his "hold" recommendation on the stock, says he has raised his forecasts for the automotive group in view of a slight rise in second-quarter sales, due to the good performance of the financial services business.

On the earnings front, the intermediary says it expects a positive contribution from lower raw material prices and recent supply enrichment, but negative currency effects and an unfavorable volume impact.

Overall, Deutsche Bank says it expects "solid" free cash flow (FCF) for the first half of the year, with full-year targets expected to remain unchanged.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.