Morgan Stanley raised the firm’s price target on Stellantis to $30.40 from $26 and keeps an Overweight rating on the shares. The emerging narrative of “stronger for longer” internal combustion engine cash flows is supportive for most legacy OEMs and a slower battery electric vehicle consumer adoption curve may be coinciding with a lower fiscal willingness to subsidize, which supports cash returns and a modest re-rating.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STLA:
- eDCT Production Launch Marks Another Milestone in €240 Million Transformation of Iconic Italian Site into Mirafiori Automotive Park 2030
- Stellantis (NYSE:STLA) Rises as It Gains Market Share in Europe
- Stellantis Annual General Meeting Live Webcast Available
- Stellantis Progresses with Strategic Share Buyback
- Weekly Report (March 29- April 4, 2024) on the First Tranche of Stellantis 2024 Share Buyback Program
