Renault SA’s cash strain may force the French carmaker to sell some of its stake in Japanese partner Nissan Motor Co., according to a Citigroup Inc. analyst who cut his recommendation on the stock.
Investors don’t yet understand “the enormity of the challenges facing Renault, despite the shares trading at the lowest levels since 2012,” Citigroup’s Angus Tweedie said in a note Thursday downgrading the manufacturer to sell.
