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Nissan, Renault, Peugeot Raised to Outperform at Bernstein 2014-01-13 06:44:08.529 GMT
By Francesca Cinelli Jan. 13 (Bloomberg) -- Japanese autos still have momentum thanks to FX, mass Euro autos still offer deep value, Bernstein says. * Nissan, Peugeot upgraded from market perform * Renault raised from underperform * Says Nissan (PT JPY1,200) has massively favorable JPY tailwinds, highly competitive engineering, manufacturing, product; co. working hard to fix many execution challenges * With regard to Renault (PT EU75), cites higher Nissan PT coupled with higher ests. for core Renault earnings thanks to better volume assumptions in both Europe and emerging mkts * As for Peugeot (PT EU15), says engineering and product range still very strong; highlights co. continued to invest heavily in new technology through crisis (unlike some peers), should be doing better than it is in mkt shr terms
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To contact the editor responsible for this story: Francesca Cinelli at +39-02-80644-252 or fcinelli@bloomberg.net