Japan-based Nissan Motor Co. Ltd. (NSANF) plans to stop making new internal combustion engines and instead concentrate on manufacturing EVs, the Nikkei reported.
It will develop these gasoline engines in limited quantities only in the U.S., primarily for pickup trucks.
It was earlier reported that Nissan plans to set up new battery recycling units in Europe and the U.S. by the end of 2025.
Headquartered in Yokohama, the company produces and sells automobiles, automotive products and marine equipment. It offers its vehicles under the brands Nissan, Infiniti, and Datsun.
Wall Street’s Take
Last month, Nomura analyst Masataka Kunugimoto reiterated a Buy rating on the stock with a price target of $7.2 (39.5% upside potential).
Additionally, Christopher Richter of CLSA maintained a Buy rating on the stock with a price target of $6.94 (34.5% upside potential).
Overall, the stock has a Hold consensus rating based on 2 Buys, 1 Hold and 1 Sell. The average Nissan Motor price target of $7.07 implies 37% upside potential. Shares have gained 4.7% year-to-date.
Investor Sentiment
TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on Nissan, as 34.1% of investors on TipRanks increased their exposure to the stock over the past 30 days.
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