Nomura analyst Anindya Das upgraded Stellantis to Buy from Neutral with a price target of EUR 21, down from EUR 24. The analyst is taking a positive view on management resolve to address the company’s North America issues. Stellantis’ investments in the first half of 2024 to launch a bevy of cost-competitive new products in Europe after a post-merger platform consolidation should position the company to better handle headwinds from slower sales growth in the region, the analyst tells investors in a research note. The firm sees an attractive valuation at current share levels with a 10% dividend yield.
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