Jefferies announced on Tuesday that it had lowered its target price for Stellantis from €26 to €25 ahead of the June 13 investor day, while renewing its buy recommendation on the stock.
In a research note, the consultancy believes that the event comes at just the right time to reassure the market, which is concerned that the company's focus on profitability at the expense of volumes may not have gone too far, or that the automaker may have "fallen asleep at the wheel" during the successful execution of its strategy.
From his point of view, investors' concerns are numerous, ranging from its lack of responsiveness in the face of high inventories in the USA, to a continued loss of market share, not to mention its strained relations with the rest of the sector's players.
The analyst - who reiterates that he has nothing to learn about the Group's strengths - says he is raising his earnings forecast in view of the risks he sees surrounding the achievement of annual targets.
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Stellantis N.V. is one of the world's leading car manufacturers. The activity is essentially organized around 4 sectors:
- sales of passenger cars and light commercial vehicles: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys brands;
- sale of luxury vehicles: Maserati and DS Automobiles brands;
- sale of automotive equipment: interior systems, car seats, car exteriors, emission control systems, etc.;
- other: sales financing services (purchase, rental, leasing, etc.), after-sales services, etc.; - other: sales financing services (purchase, rental, leasing, etc.).
Net sales are distributed geographically as follows: the Netherlands (0.8%), North America (46.7%), France (9.5%), Brazil (7.3%), Italy (6.2%), Germany (5.5%), the United Kingdom (4.4%), China (0.6%) and other (19%).
STELLANTIS N.V. 
