Renault: stock up after Nissan-Honda announcement
(CercleFinance.com) - The share closed up 2% following the announcement by Honda and Nissan of a memorandum of understanding (MoU) with a view to their merger, which could also include Mitsubishi Motors.
Following this announcement, Oddo BHF reaffirms its 'outperform' rating and E60 target price for Renault (cp: E47).
While read-across for Renault remains limited at this stage, the broker believes that the French carmaker should play an important role in the discussions, both operationally and, above all, in terms of shareholder value.
Renault's stake in Nissan still seems more monetizable today with this agreement than before, and the 'better' perception of Nissan in the short term reinforces analysyts' view of a favourable scenario for Renault.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Following this announcement, Oddo BHF reaffirms its 'outperform' rating and E60 target price for Renault (cp: E47).
While read-across for Renault remains limited at this stage, the broker believes that the French carmaker should play an important role in the discussions, both operationally and, above all, in terms of shareholder value.
Renault's stake in Nissan still seems more monetizable today with this agreement than before, and the 'better' perception of Nissan in the short term reinforces analysyts' view of a favourable scenario for Renault.
Copyright (c) 2024 CercleFinance.com. All rights reserved.