Stellantis: Stifel maintains buy rating, cuts target price
(CercleFinance.com) - Stifel reiterates its "buy" rating on Stellantis shares, having trimmed its target price for them from 29.
5 euros to 28 euros, after "First quarter robust revenues' performance (+12%) was a testimony to ongoing price-mix discipline".
The broker also notes that the carmaker's CFO "keen to point at cost opportunities that should also structurally support Stellantis' ambitions of "sustained double-digit margins".
Stifel has increased its EPS estimates through 2024 by an average of 6%, with its small target price cut a reflection of lower peer group multiples and planned WCR neutralisation (previously announced).
The share is currently up about 2% at exactly 13 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.
5 euros to 28 euros, after "First quarter robust revenues' performance (+12%) was a testimony to ongoing price-mix discipline".
The broker also notes that the carmaker's CFO "keen to point at cost opportunities that should also structurally support Stellantis' ambitions of "sustained double-digit margins".
Stifel has increased its EPS estimates through 2024 by an average of 6%, with its small target price cut a reflection of lower peer group multiples and planned WCR neutralisation (previously announced).
The share is currently up about 2% at exactly 13 euros.
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.