(Boursier.com) — Stellantis lost 0.7% this weekend to 16.80 euros on the Parisian market, while brokers continue to adjust on the file, starting with Berenberg which reduced its target on the car manufacturer from 22 to 21 euros, while remaining on purchase. Exane BNP Paribas, on the contrary, had previously returned to ‘outperform’ by raising its target from 19 to 22 euros. HSBC, which is also buying, had already adjusted its target objective from 21 to 24 euros in the wake of the car manufacturer’s solid half-year results… The group resulting from the merger between PSA and FCA has indeed revealed record accounts this summer, even if its adjusted operating margin fell slightly over the period, going from 14.5% to 14.4% over one year…
Asked about this development, Stellantis CEO Carlos Tavares responded that this measure of the group’s overall efficiency remained significantly higher than that posted by Tesla and General Motors over the period… “It will be interesting to see where we end up “We will place ourselves in the rankings when we reach the weekend,” he added, referring to the many other publications of manufacturer results scheduled for the week.
Question of dosage
Carlos Tavares’ strategy combines emphasis on the most profitable markets and models and a constant hunt for costs… This policy allowed Stellantis to reduce its breakeven point to 33% in the first half, compared to less than 40% for the year. last and a medium-term strategic objective of less than 50%, detailed the manager.
This means that the group will continue to earn money, even if its sales fall by two thirds, a way of protecting it “from external hazards”, added the general director. “But if the market is more competitive on price, we need to work harder on cost reductions to ensure that we give the market the breathing space it needs while protecting our unit margins,” he said. he also warned…
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