Nissan : Q1 disturbing, guidance confirmed, few new elements on the plan

>Q1 2019: bad, worse than expected, worrying - The Q1 2019 results are bad (operating profit down 99%, very negative FCF, sharp drop in net cash), indeed worse than expected. Operating profit came in at JPY 1.6bn. Press reports yesterday were still putting it at JPY 10bn. The consensus was closer to JPY 30bn. Management itself admits it is disappointed, especially by the low volumes. Lastly, they are worrying, and one can legitimately ask whether Nissan is still under...

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/18/2019

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ODDO BHF Small & MIDCAP MORNING NEWS - 07/18/2019

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ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 18/07/2019

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ODDO BHF Small & MIDCAP MORNING NEWS - 18/07/2019

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ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2019

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ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/05/2019

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PSA Autos: US Auto Sales for Feb 2019 - Monthly Update

Feb 2019 US Auto Sales Decline on Lower Incentives and Winter Storms US auto sales declined 2.9% YoY to 1.26mil vehicles in Feb, as poor weather conditions plus restraint on the incentives front kept customers out of showrooms. SAAR fell to 16.61mil units – the lowest level since Aug 2017. As we saw in Jan, the bad weather spell dampened demand for light trucks, which rose by only +1.2% YoY. Passenger cars sales continued to be weak (-11% YoY). Market observers also noted that the US government shutdown and lower tax refunds negatively impacted Feb auto sales. Julie Boote comments on the perfo...

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/13/2019

We are initiating coverage on HOCHTIEF on Neutral, with a target price of € 152. We are attracted by the combination of yield and growth as well as by management’s track record, but we believe that other companies within our coverage (Eiffage, VINCI) today offer equally attractive and more sustainable levels of FCF yield and return. - ...

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 13/02/2019

Nous initions HOCHTIEF à Neutre, avec un objectif de cours de 152 €. Nous sommes séduits par la combinaison rendement-croissance ainsi que par le track record du management mais nous estimons que d’autres valeurs au sein de notre univers de couverture (Eiffage, VINCI) offrent aujourd’hui des niveaux de FCF yield et de rendement aussi intéressants et plus pérennes. Cf étude publiée hier soir. - ...

Nissan Motor Co

Nissan Motor Co

Nissan Motor Co

NISSAN MOTOR CO.LTD. sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of NISSAN MOTOR CO.LTD. (JP), a company active in the Automobiles industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date January 25, 2019, the closing price was JPY 927.70 and its potential was estimated at JPY 1,005.15.

Nissan Motor Co

PSA Autos: Japanese Assemblers at the Geneva Motor Show – Impressions

Analyst Julie Boote returns from the Geneva Auto Show and provides her impressions and photos of what is on offer by the Japanese.

PSA Autos: Carlos Ghosn Arrested – Concern Over Future of Alliance. Implications for Nissan Motors (7201 JT) and Mitsubishi Motors (7211 JT)

Summary With the arrest of Carlos Ghosn, Julie Boote discusses the future of Renault's alliance with Nissan Motors (7201 JT) and Mitsubishi Motors (7211 JT)

PSA Autos: US Auto Sales August – SAAR Falls to One-Year Low

US auto sales fell 0.2% YoY to 1.48mil units in August, with SAAR reaching 16.69mil units, which is the lowest level since Aug 2017 when hurricane Harvey disrupted sales. Given that both the base of comparison was quite low, and the number of sales days was the same as in August last year, this was a mediocre performance overall. Some automakers are trying to rein in incentives, which hurts demand; according to auto data provider ALG, average incentives rose by only 0.7% YoY. The move away from passenger cars towards light trucks is ongoing, with August passenger car sales down as much as 19% ...

PSA Autos: June 2018 US Auto Sales: Japan Automakers All Record Sales Gains

US auto sales increased 5% YoY to 1.54 mil vehicles in June, with SAAR reaching 17.47mil units, the highest level since March. June 2018 had one more selling day than June 2017, indicating that DSR-adjusted sales would have risen by 1% YoY. Sales in CY18 1H finished 1.8% YoY higher – better than expected by market observers, and by PSA. Analyst Julie Boote comments on the outlook for 2H 2018 and the performance of the Japanese OEMs.

Will Nissan (7201 JP) Surprise on the Upside in FY2018?

The market brushed aside Nissan’s FY18 below consensus estimates. Was it right to do so? Analyst Julie Boote sizes up Nissan’s prospects.