Stellantis: share price down slightly, an analyst's opinion
July 08, 2024 at 11:40 am EDT
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Stellantis is down by almost 0.5% in Paris, as Oddo BHF indicated this morning that it was maintaining its 'outperform' opinion on the stock, despite a cautious adjustment of its price target from €30 to €25, ahead of the publication of the automaker's half-year results, scheduled for July 25.
The research firm is lowering its estimates (-11% for 2024-25) to reflect its now more cautious view of the group in the short term (inventories, market share), and more generally of the environment (consumption in Europe and the USA).
Oddo BHF nevertheless considers that 'Stellantis' fundamental qualities are still present and should indeed enable it to rebound from the second half of 2024 and into 2025'.
Beyond that, the company's very healthy financial situation, combined with its now robust and recurring FCF generation, should enable it to maintain a favorable return-to-shareholder policy", adds the analyst.
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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. 
