UBS has upgraded Honda Motor Co Ltd's stock rating from Sell to Neutral, adjusting the price target from JPY1,400 to JPY1,300 following a 30% decline in share price since March 2024. The firm noted that the market capitalization of JPY6 trillion indicates limited downside risk, despite a 10% reduction in EPS estimates for the fiscal year ending March 2025 due to rising product-quality costs and BEV losses. Future earnings projections for subsequent years have also been lowered by 4-5%, reflecting anticipated increased incentives and ongoing BEV challenges.
UBS has upgraded Honda Motor Co Ltd's stock rating from Sell to Neutral, adjusting the price target from JPY1,400 to JPY1,300 following a 30% decline in share price since March 2024. The firm noted that the market capitalization of JPY6 trillion indicates limited downside risk, despite a 10% reduction in EPS estimates for the fiscal year ending March 2025 due to increased product-quality costs and BEV losses. Future earnings projections for subsequent years have also been lowered by 4-5%, reflecting anticipated higher incentives and ongoing BEV challenges.
UBS has upgraded Renault to "Neutral" with a target price of 41 euros, following reports of a potential merger between Nissan and Honda. Analyst David Lesne noted Renault's previous intention to reduce its stake in Nissan, suggesting that a merger could facilitate share sales to strategic partners or Honda.
UBS has maintained a 'Neutral' rating for Renault, setting a target price of 41 euros, amid speculation of a potential merger between Nissan and Honda. Analyst David Lesne noted Renault's previous intentions to reduce its stake in Nissan, suggesting that a merger could facilitate share sales to strategic partners or Honda.
UBS has maintained a "Neutral" rating for Renault, setting a target price of 41 euros, amid reports of a potential merger between Nissan and Honda. Analyst David Lesne noted Renault's previous intention to reduce its stake in Nissan, suggesting that a merger could facilitate share sales to strategic partners or Honda.
UBS has maintained a 'Neutral' rating for Renault, setting a target price of 41 euros, amid speculation about a potential merger between Nissan and Honda. Analyst David Lesne noted Renault's previous intentions to reduce its stake in Nissan, suggesting that a merger could facilitate share sales to strategic partners or Honda.
UBS has maintained a 'Neutral' rating for Renault, setting a target price of 41 euros, amid speculation of a potential merger between Nissan and Honda. Analyst David Lesne noted Renault's previous intentions to reduce its stake in Nissan, suggesting that a merger could facilitate share sales to strategic partners or Honda. As of December 18, 2024, Renault's stock was trading at €46.72, reflecting a 3.18% increase.
Investors are anticipating a quarter-percentage point interest-rate cut from the Federal Reserve, with U.S. stock futures rising after the Dow's nine-session losing streak. Honda and Nissan are in merger talks, while Micron Technology's stock is up ahead of its earnings report, and Nvidia shares are rebounding after a recent decline.
Asian stocks saw a slight increase as investors prepared for the Federal Reserve's final policy decision of the year, with a regional gauge rising 0.3%. Notably, Nissan's shares surged 24% amid merger talks with Honda, while US futures also ticked higher. The Fed is expected to cut interest rates by 25 basis points, with attention on its outlook for 2025 amidst mixed US economic data and potential inflationary pressures from proposed policies.
In November, the UK auto market saw plugin EVs capture 35.3% of sales, with BEVs alone accounting for 25.1%. Tesla led the market with 12% share, followed by Volkswagen and Mercedes. As manufacturers rush to meet the 2024 ZEV mandate, significant discounts on BEVs are expected in December.
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