Renault: not too late to take advantage of the rebound, says Barclays
Shortly before 12:30 pm, the automaker's shares gained 1.2%, while the CAC gave up around 0.4%, taking it back to new highs since 2019.
In a note released in the morning, Barclays said it had raised its recommendation to 'overweight', compared with 'in-line weighting' previously, and had raised its target price from €36 to €60.
While acknowledging that the share price has already risen by 30% over the past month, the research firm stresses that this recovery has taken place from very low levels, and believes that it is not yet too late to take advantage of this rebound.
In its view, the stock continues to offer upside potential due to the favorable dynamics of the product mix, the improvement in free cash flow (FCF) and the expected ramp-up in dividend payments.
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