Stellantis: Jefferies lowers its target price

(CercleFinance.com) - While maintaining its 'hold' recommendation on Stellantis, Jefferies has lowered its target price from E15 to E14, the day after the Franco-Italian-American automaker issued a profit warning.


This warning has led the broker to reduce its own expectations for 2024, by 34% on adjusted EBIT to E10.2 billion (or a margin of 6.4%), and to forecast negative free cash flow of E6.2 billion.

"Resetting inventories is only the first step in the recovery for a business model and a management team that must demonstrate their ability to manage size and brands to win back market share", he further warns.

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