Goldman Sachs upgraded Renault to Buy from Neutral with a price target of EUR 70, up from EUR 51. The analyst believes Renault’s 10 announced product launches in 2024 can contribute an incremental 21.5% and 30.5% to automotive EBIT in 2024 and 2025, relative to 2023, respectively. The firm cites the company’s “strong product cadence” for the upgrade.
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