Stellantis: UBS confirms buy rating
(CercleFinance.com) - The carmaker has reported Q1 2022 net sales of 41.
5 billion euros, up 12% y-o-y relative to the pro- forma figure of 37.0 billion euros in Q1 2021.
UBS believes that the sales are better than expected thanks to the price mix. The analyst therefore confirms a buy rating on the stock, along with a target price of 25 euros.
"9% beat in revenues thanks to large price/mix boost (~24% in NA, ~15% in Europe). Despite lowered volume outlook there might be cons. EBIT upgrades for 2022," UBS says.
The group confirmed its full year target of double-digit current operating margin and positive cash flow, supported by good product momentum and strong strategic partnerships.
Stellantis N.V. - Q1: Revenue beat driven by price/mix (Patrick Hummel, CFA)
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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.
5 billion euros, up 12% y-o-y relative to the pro- forma figure of 37.0 billion euros in Q1 2021.
UBS believes that the sales are better than expected thanks to the price mix. The analyst therefore confirms a buy rating on the stock, along with a target price of 25 euros.
"9% beat in revenues thanks to large price/mix boost (~24% in NA, ~15% in Europe). Despite lowered volume outlook there might be cons. EBIT upgrades for 2022," UBS says.
The group confirmed its full year target of double-digit current operating margin and positive cash flow, supported by good product momentum and strong strategic partnerships.
Stellantis N.V. - Q1: Revenue beat driven by price/mix (Patrick Hummel, CFA)
Copyright (c) 2022 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.