Stellantis: Oddo BHF remains positive, but lowers its target
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Stellantis, despite cautiously trimming its target price from E30 to E25, ahead of the publication of the automaker's half-year results, scheduled for 25 July.
The broker is lowering its estimates (-11% for 2024-25) to reflect its now more cautious view of the group in the short term (inventories, market share), and more generally of the environment (consumption in Europe and the US).
Oddo BHF nevertheless considers that 'Stellantis' fundamental qualities are still present and should indeed enable it to rebound from H2 2024 and into 2025.
Beyond that, the company's very healthy financial situation, combined with its now robust and recurring FCF generation, should enable it to maintain a favourable return-to-shareholder policy, the analyst adds.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The broker is lowering its estimates (-11% for 2024-25) to reflect its now more cautious view of the group in the short term (inventories, market share), and more generally of the environment (consumption in Europe and the US).
Oddo BHF nevertheless considers that 'Stellantis' fundamental qualities are still present and should indeed enable it to rebound from H2 2024 and into 2025.
Beyond that, the company's very healthy financial situation, combined with its now robust and recurring FCF generation, should enable it to maintain a favourable return-to-shareholder policy, the analyst adds.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.