(CercleFinance.com) – Renault lost just over 1% in Paris, penalized by an analysis by AlphaValue which announced last night that it had lowered its recommendation on the stock, which it reduced to ‘accumulate’ against ‘purchase’ previously, in due to its high exposure to the Russian market.
For the design office, the diamond group is the European manufacturer most exposed to the Russian-Ukrainian conflict and to Western sanctions against Moscow, which according to him will severely penalize demand for cars in the country.
According to AlphaValue, it is the group’s majority stake in the capital of Avtovaz, the leading Russian car manufacturer with 21% market share, which is at the heart of investors’ concerns.
These concerns are at the origin, according to him, of the strong correction of the title Renault (-29%) during the last two weeks.
Its target price remains unchanged, however, at 29.6 euros.
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