Stellantis: Jefferies maintains buy rating after meeting
(CercleFinance.com) - Jefferies reinstates its "buy" rating and 18-euro target price for Stellantis shares, after a CMD organised by the car manufacturer that was born from the merger between Peugeot and Fiat Chrysler.
"Listening to CFO Richard Palmer and IR Director Andrea Bandinelli through a day of investor meetings keeps us highly confident about Stellantis operating performance and the soundness of its transition," the broker said.
"Valuation discount to peers remains somewhat of a mystery given the quality of execution including superior cash generation and conversion," Jefferies adds.
As it stands the share is up about 0.8%, a step ahead of the market in Paris.
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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.
"Listening to CFO Richard Palmer and IR Director Andrea Bandinelli through a day of investor meetings keeps us highly confident about Stellantis operating performance and the soundness of its transition," the broker said.
"Valuation discount to peers remains somewhat of a mystery given the quality of execution including superior cash generation and conversion," Jefferies adds.
As it stands the share is up about 0.8%, a step ahead of the market in Paris.
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.