Degroof Petercam upgrades Peugeot Invest on 63% discount to peers

Peugeot Invest SA

24/09/2024 09:38

** Degroof Petercam upgrades French holding company Peugeot
Invest  PEUG.PA  to "buy" from "hold", saying the stock is
undervalued and flagging positive prospects from the upcoming
CEO change
    ** It says the share price correction in Peugeot Invest,
which currently trades at a record 63% discount to peers, has
gone too far, and notes in-line H1 results amid debt reduction
    ** The broker expects Jean-Charles Douin, who will become
the group's CEO in late October, to increase the quality of its
portfolio while allowing potential shareholder returns
    ** "This is a true 'value' investment company with limited
downside," it adds
    ** Three out of four analysts covering Peugeot Invest rate
it "buy" or "strong buy", with one at "hold"

 (Reporting by Alban Kacher)
 ((alban.kacher@thomsonreuters.com))