Renault: Jefferies raises target price
(CercleFinance.com) - On Monday Jefferies raised its target price for Renault shares from 40 euros to 43 euros, against the backdrop of the acceleration of the group's transformation.
The US broker - which is maintaining its buy rating on the stock - points out that it exceeded market expectations by more than 50% in H1, while raising its targets so that they too appear to be 50% higher than the consensus.
The road ahead is still long, although analysts continue to see encouraging signs that Renault is well placed to neutralise the current cycle by generating good results.
For Jefferies, the company will be able to improve the current terms of its alliance with Nissan and Mitsubishi, while repositioning its assets in both internal combustion engines and electric vehicles.
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