Stellantis: degraded!

Photo credit © Stellantis / Peugeot SAS

( — Stellantis peak slightly decreasing in the morning (-0.6% to 24.1 euros). The news around the manufacturer is marked by a note from Bernstein who lowered his recommendation to ‘market performance’, affirming that at current levels, the group is fairly valued. The broker says it expects operating margins and free cash flow to deteriorate in 2024 and be below consensus for the year. He sees more upside in 2025. He is waiting for the June investor day to get more details on margins, lower capital spending or higher share buybacks.


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