(CercleFinance.com) – Morgan Stanley renewed its ‘overweight’ recommendation on Renault on Thursday while increasing its price target on the stock from 44 to 59 euros.
In a research note, the analyst looks back on the strong upward trajectory recently signed by the automaker, claiming to still see potential value at current levels.
He adds that the group, like Stellantis, offers attractive remuneration to shareholders, thanks to a solid dividend which, according to him, limits the share’s downward potential.
MS adds that it appreciates the manufacturer’s geographical positioning, and particularly its limited exposure to China, which protects it against excessive pressure on prices this year.
Due to the sharp rise in the stock since the start of the year, the intermediary warns, however, that profit-taking remains possible, while warning that high interest rates could also end up weighing on demand.
Copyright © 2024 CercleFinance.com. All rights reserved.
The information and analyzes distributed by Cercle Finance only constitute a decision-making aid for investors. Cercle Finance cannot be held responsible directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional advisor before making any investment. This indicative information does not in any way constitute an inducement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends using the buttons below.
