(CercleFinance.com) – Bank of America raised its Renault price target on Thursday from € 38 to € 40, while maintaining its buy recommendation on the stock.
In a research note, the research office believes that the publication of the group’s 3rd quarter results, scheduled for October 21, should be a ‘non-event’, given that the important element of the moment is, according to him, the firmness of prices. of sales, at the origin of his raising of the target.
BofA believes that Investor Day on November 8 could also be of some importance if it helped to learn more about the evolution of the company’s structure and the future of the stake in Nissan.
With the new forecasts, the analyst now shows an estimated 30% higher operating profit than the consensus for 2023.
