Here’s What Analysts Have to Say as Fiat Walks Away From Renault
- Renault shares fall as much as 8%, Fiat recovers after drop
- Citi downgrades Renault on lack of deal, cost headwinds
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Fiat Chrysler Automobiles NV’s pullout from merger talks with French counterpart Renault SA pushes the two carmakers to strengthen or renew ties with other rivals, according to analysts. Citigroup Inc. and Evercore ISI downgraded Renault shares after the news, while RBC was more optimistic, saying that the offer highlighted unlocked value in the firm.