On Thursday, Bernstein raised its opinion on Renault shares from 'market perform' to 'outperform', with a price target of 45 euros.

In a research note, the analyst firm believes that the stock's risk/reward profile has improved considerably of late, thanks in particular to the continued improvement in results in Europe, a phenomenon which it believes limits the bearish potential for 2023.

The professional also cites the automaker's solid strategic execution, as well as the interest presented by the three hot issues of the moment, namely the improved relationship with Nissan, the launch of the Ampere project in electric vehicles and the 'Horse' joint venture created with China's Geely.

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