On Thursday, Barclays renewed its 'overweight' recommendation on Stellantis shares, with a price target reduced from 22.5 to 22 euros, ahead of the publication of the automotive group's 2023 annual results, scheduled for February 15.

In a research note, the financial intermediary stresses the uncertainty surrounding second-half 2023 performance and 2024 forecasts, in view of the recent weakness in European sales volumes and ongoing destocking in the USA.

For 2024, the analyst now expects sales volumes to rise by just 3%, compared with +5% to date, as the automaker continues to win market share.

In general, Barclays praises the quality and track record of Stellantis, which it says it still considers a 'core' automotive investment, even after its solid stock market performance over the past 12 months.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.