SPECIAL SITUATION:
Renault (RNO: FP) – Best placed to outperform the sector- BUY
After a very strong start of the year and ahead of 1H17 results (July 28, 2017) we focus in this note on Renault’s equity story (rather than looking at it as a holding company) and update our valuation. We view Renault as one of the most interesting companies in the European Auto segment with number of catalysts ahead, and we believe it is well positioned to grow in the next 12-24m (in 1Q17 it significantly outpaced market growth in all regions). In the report attached we discuss in more details the different key elements for the share price and present our SOTP analysis.
Full report attached!
Regards,
Dafna Yagur | Head of Research (Israel)
Makor Capital
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