(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation and its target price of 53 euros on Renault, i.e. a potential upside of 50%, the broker declaring that it sees ‘a good entry point’ on the manufacturer’s stock diamond car.
“Concerns over bank stability and rates naturally devalued the stock, with stock markets once again not assigning any fundamental value to the core business,” he said.
Saying it is strengthened in its belief that ‘imagination and agility matter more than size’ in the sector’s transition, Jefferies sees ‘significant room to improve results given the still modest current levels’.
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