On Monday, Deutsche Bank adjusted its price target for Renault SA (OTC:RNLSY) (RNO:FP) (OTC: RNSDF) shares, increasing it from EUR50.00 to EUR55.00. The firm maintained a Hold rating on the stock.
The revision anticipates Renault (EPA:RENA)'s first-half 2024 financial results, which are scheduled to be disclosed on July 25, with a press release expected the day before, on July 24, after the market closes.
The analyst from Deutsche Bank predicts a modest increase in Renault's second-quarter year-over-year top line, driven primarily by the financial services division, while expecting automotive revenues to remain relatively stable compared to the same period last year.
The forecast incorporates a positive impact from raw materials and product enrichment, although it also accounts for potential challenges due to volumes and foreign exchange rates.
Renault's profitability is also expected to reflect these trends, with the analyst projecting a solid free cash flow (FCF) for the first half of the year. Despite the mixed factors influencing the company's performance, the analyst's outlook suggests that Renault's overall guidance for the period is likely to remain consistent.
Investors and stakeholders in Renault SA are looking forward to the official release of the company's financial results for the first half of 2024 to gauge the accuracy of these projections and to understand the company's current financial health and future outlook.
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