Stellantis: RBC renews 'outperform' rating
(CercleFinance.com) - RBC Capital Markets reiterated its 'Outperform' rating on Stellantis shares on Tuesday, with a target price of E20, believing that the recent appointment of Natalie Knight as CFO could herald an increased focus on the North American market.
"Knight will be based in the Auburn Hills, Michigan office, and we think her ability to target the NA investor base was one of the main factors in her appointment", it said.
The Canadian broker says that the new executive could be willing to organise more meetings with the financial community in the U, a factor which it believes could enable Stellantis to catch up in terms of valuation, relative to Ford and GM, which are in the habit of organising regular meetings with investors in the region.
The broker points out that, despite much higher operating margins, Stellantis shares are currently trading on an Enterprise Value/Ebitda multiple of 1.4x, compared with 1.5x for GM and 2.0x for Ford.
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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.
"Knight will be based in the Auburn Hills, Michigan office, and we think her ability to target the NA investor base was one of the main factors in her appointment", it said.
The Canadian broker says that the new executive could be willing to organise more meetings with the financial community in the U, a factor which it believes could enable Stellantis to catch up in terms of valuation, relative to Ford and GM, which are in the habit of organising regular meetings with investors in the region.
The broker points out that, despite much higher operating margins, Stellantis shares are currently trading on an Enterprise Value/Ebitda multiple of 1.4x, compared with 1.5x for GM and 2.0x for Ford.
Copyright (c) 2023 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.