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Renault, Michelin Have Most Upside in EU Autos; Fiat Lags 2014-01-07 12:25:23.653 GMT
By Brian Lysaght Jan. 7 (Bloomberg) -- Renault, Michelin and Nokian Renkaat have the most potential upside among EU auto stocks in 2014 based on consensus 12-mo. price targets compiled by Bloomberg. * Renault has 15% potential return from current price; Michelin 13%, Nokian Renkaat 8.7%, Rheinmetall 7% * Most downside: Fiat -14%; Continental -3%; Pirelli -0.6% * Others: Faurecia 5.9% upside; Peugeot 5.5%; GKN 5.3%; VW (pfd) 5.2%; BMW 3.9%; Daimler 3%; Porsche 1.4%; Valeo 1.1% * SXAP avg is 3% upside; SXAP advanced 37% last year * Best 12-mo. total return: Valeo 108%, Continental 81%, Fiat 67% * Worst return: Michelin 3.7%, Nokian 9.5%, BMW 9.9% * Best analyst avg. rating: Volkswagen (28 buy, 7 hold, 3 sell); GKN (10 buy, 5 hold, 0 sell); Michelin (15 buy, 4 hold, 3 sell) * Worst rated are Peugeot (8 buy, 8 hold, 12 sell); Fiat (7 buy, 7 hold, 12 sell); Nokian Renkaat (7 buy, 8 hold, 4 sell) * Most shorted: Peugeot 14.8% of shares outstanding, 12 days to cover: Markit Securities as of Jan. 3 * See: Renault May Lead Peers With 15% Gain in 2014, Consensus Says: Bloomberg Industries
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To contact the reporter on this story: Brian Lysaght in London at +44-20-7330-7908 or blysaght@bloomberg.net
To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net