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Key facts: Bank of America upgrades Renault; shares rise 3.3% on standards cut
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Bank of America upgraded Renault's stock from neutral to buy, citing better valuation due to relaxed emissions standards in Europe, expected to boost Renault's cash flow.1Renault's shares rose 3.3% in early Thursday trading, following U.S. President Trump's plan to lower fuel economy standards, which may help boost sales of gasoline vehicles.2Renault and European automakers could gain from a proposed cut in the Corporate Average Fuel Economy standard from 50.4 to 34.5 miles per gallon, boosting their electric vehicle market edge.3
- Bank of America upgraded Renault's stock from neutral to buy, citing better valuation due to relaxed emissions standards in Europe, expected to boost Renault's cash flow.1
- Renault's shares rose 3.3% in early Thursday trading, following U.S. President Trump's plan to lower fuel economy standards, which may help boost sales of gasoline vehicles.2
- Renault and European automakers could gain from a proposed cut in the Corporate Average Fuel Economy standard from 50.4 to 34.5 miles per gallon, boosting their electric vehicle market edge.3
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