Fiat Chrysler: Oddo sticks to 'reduce' rating after results
(CercleFinance.com) - Regretting Q4 2018 results and targets for 2019 that are below expectations, an analyst at Oddo BHF confirmed his "reduce" recommendation on the Fiat Chrysler stock, also pointing out a first half that has got off to a difficult start.
During the presentation, Mike Manley, the company's new CEO, said it expects a difficult H1, albeit with a gradual improvement sequentially, by first highlighting the positive impact in H1 18 of the simultaneous production of the old and new versions of the Jeep Wrangler, and then the planned drop in production of the Ram Heavy Duty (renewed in H2) and the Jeep Wrangler to prepare a hybrid plug-in version in H2, with the group [finally] expecting an improvement in H2, thanks to the launch of the Jeep Gladiator and Ram heavy duty models and improvements in certain cost-cutting measures, Oddo says regarding the group's outlook.
The broker confirms its target price of 12.50 euros.
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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.
During the presentation, Mike Manley, the company's new CEO, said it expects a difficult H1, albeit with a gradual improvement sequentially, by first highlighting the positive impact in H1 18 of the simultaneous production of the old and new versions of the Jeep Wrangler, and then the planned drop in production of the Ram Heavy Duty (renewed in H2) and the Jeep Wrangler to prepare a hybrid plug-in version in H2, with the group [finally] expecting an improvement in H2, thanks to the launch of the Jeep Gladiator and Ram heavy duty models and improvements in certain cost-cutting measures, Oddo says regarding the group's outlook.
The broker confirms its target price of 12.50 euros.
Copyright (c) 2019 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.