Jefferies analyst Philippe Houchois raised the firm’s price target on Stellantis (STLA) to $27.25 from $24.38 and keeps a Buy rating on the shares. Ford (F) and General Motors (GM) slowing EV investment to match the pace of demand is “a bit circular” as it helps profit resilience, but delaying investment heralds a potential loss of global EV competitiveness, the analyst tells investors. Among Legacy OEMs, the firm finds Stellantis to be among the most adept, along with BMW (BMWYY), at balancing industry challenges of profitability, re-investment, cash returns to shareholders and strategic initiatives, the analyst added.
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