Fiat Chrysler: Oddo downgrades to 'Reduce'

(CercleFinance.com) - Indeed, Oddo hasn't beaten about the bush this time.
Believing that the FCA group stock is overvalued, the broker has directly downgraded its "buy" rating on the Fiat Chrysler (FCA) stock to "reduce," while maintaining its target price of 13 euros.

Since last August, FCA's value has appreciated by over 9 billion euros, based on continued speculation, Oddo points out, for which the market largely overestimates the valuation of Magneti Marelli.

The broker also judges the group's spin-off of Maserati/Alfa Romeo as premature, considering it to be a sale for which the required terms are not yet in place, considering that it still has a long way to go to reach the targets set in its plan for 2014/2018.


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