Renault: up sharply after Nissan and Honda announcements

(CercleFinance.com) - The share price is 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' opinion and its target price of 60 euros for Renault.

While read-across for Renault remains limited at this stage, the research firm 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 our view of a favorable scenario for Renault", it believes.

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