Stellantis: Stifel still a buyer, trims TP

(CercleFinance.com) - Stifel maintains its "buy" rating on Stellantis shares, while shaving a euro off its target price for them, from 25 euros to 24 euros (current price about 16 euros, up over 2%).


With the carmaker organising a "Tech Day" tomorrow to detail its software strategy, the precise agenda and scope of the event have not been specified. Indeed, investors will be looking out for potential business opportunities, the analyst says.

Stifel said that since its CMD has been postponed, peole will have to wait until early 2022 to learn more about the group's medium-term targets, capital allocations and the recovery of the Chinese market.

Pointing to limited visibility on semiconductor availability in particular, Stifel has cut its EPS estimates for 2021-2023 by 4%.


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