(CercleFinance.com) – Oddo organized a roadshow with Richard Palmer, CFO of Stellantis, for French investors. Following this meeting, Oddo confirms its advice to Surperformance and its price target of €20.
The analyst is largely confirmed in his positive opinion of Stellantis (his sector Top Pick).
‘After an already excellent first half, management once again showed its confidence yesterday in its ability to maintain high operating performance (double-digit profitability)’ indicates Oddo.
The analyst indicates that the CFO has been very reassuring on the current environment in North America (demand, price, mix) and more cautious on Europe (while specifying that he does not yet perceive any negative signals on the activity).
‘ He then recalled the challenges for the next few years already detailed during the CMD (reduction of WCR, reduction of the pension deficit, development of the captive in the United States, battery/software investments) and the dividend policy considered attractive (payout of 25-30%, current yield of 10%)’ adds Oddo.
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