Following the publication of Peugeot Invest's results last Friday, Oddo BHF has reaffirmed its 'outperform' opinion and its price target of 145 euros, highlighting a 'still very high' discount for the stock.

By updating its model, and at the current share price, the research department has recalculated a discount of -55%, high by historical standards, on the NAV it currently calculates at 230 euros.

Oddo BHF believes that the company, an investment vehicle of the Peugeot family, has posted a good start-of-year NAV, up 12% in the first half to 221.3 euros per share, driven by Peugeot 1810 (unmanaged part of the portfolio).

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