Bernstein upgraded Stellantis to Outperform from Market Perform with a price target of $26.40, up from $18.50. The analyst says the end to the company’s union negotiations is “in sight.” Stellantis will face sector headwinds in 2024, but its “unique” regional exposure and growth opportunities will help deliver more than EUR 10B underlying annual free cash flow in 2024 and 2025, the analyst tells investors in a research note.
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