
Stellantis: Jefferies downgrades stock, slashes TP
(CercleFinance.com) - Jefferies downgrades Stellantis shares from 'buy' to 'hold', with a target price slashed from E25 to E15, believing that by focusing on costs, CEO Carlos Tavares has made the group more efficient than competitive.
De-stocking is a requirement, but the group's track record also requires an overhaul of its go-to-market strategy and capacity adjustments that reduce balance sheet strength, the broker judges.
Overall, we're a long way from shareholder returns and Darwinian M&A transactions, Jefferies continues, which reduces its expectations for adjusted EBIT and FCF by 14% and 27% respectively for the current year.
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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.
De-stocking is a requirement, but the group's track record also requires an overhaul of its go-to-market strategy and capacity adjustments that reduce balance sheet strength, the broker judges.
Overall, we're a long way from shareholder returns and Darwinian M&A transactions, Jefferies continues, which reduces its expectations for adjusted EBIT and FCF by 14% and 27% respectively for the current year.
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.