tiprankstipranks
CNH Industrial Completes Demerger with Iveco Group; Shares Rise
Market News

CNH Industrial Completes Demerger with Iveco Group; Shares Rise

CNH Industrial N.V. (NYSE: CNHI) completed its planned demerger with Iveco Group N.V. on December 31.

Shares of CNH Industrial, a global leader in the capital goods, equipment, and services catering to agriculture and construction workers, gained 1.2% on December 31 to close at $19.43.

According to the planned demerger, from January 1, 2022, Iveco Group business segments will operate independently and separately from CNH Industrial.

Iveco Group will become a publicly listed company and its common shares will commence trading on the regulated market of Euronext Milan on January 3, 2022 under the ticker symbol ‘IVG’.

CNHI: Now a Pure-Play Agriculture and Construction Company on NYSE

As a result of the demerger, CNH Industrial will trade on the New York Stock Exchange (NYSE) as well as Euronext Milan in Italy as a pure-play agriculture and construction player.

At its Capital Markets Day is scheduled to be held on February 22, the company will share its plans and strategies for the future.

CEO Comments

CNH Industrial CEO, Scott W. Wine, commented, “Today we are excited to usher in the new CNH Industrial, the result of detailed strategic planning, hard work and boundless determination.”

Looking forward to the future, he further added, “As a pure player in agriculture and construction, we will bring our undivided attention to bear on supporting our customers and dealers. This involves developing innovative products and processes to enhance productivity; accelerate profitable growth; and spearhead our ambitious ESG plans to ensure we act in full respect of people and the planet.”

Analysts Recommendation

On December 27, Morgan Stanley analyst Courtney Yakavonis resumed coverage on CNH Industrial with a Buy rating and the price target of $24 (23.5% upside potential).

Overall, the stock has a Strong Buy consensus rating based on 7 Buys and 1 Hold. The average CNH Industrial price target of $21.38 implies 28.64% upside potential from current levels. Shares of CNHI have jumped 56% over the past year.

Investors Weigh In

TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on CNH Industrial, with 9.1% of investors increasing their exposure to CNHI stock over the past 30 days.

Download the mobile app now, available on iOS and Android

Related News:
Tesla Smashes Vehicle Delivery Expectations
Li Auto December Deliveries Jumps 130%  
AT&T Urged To Delay 5G Service Launch over Air Safety Concerns – Report

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles