Stellantis Shares Slide After BofA Downgrade Over Europe Worries

Stellantis Shares Slide After BofA Downgrade Over Europe Worries​

Analysts See Weak Results Ahead and Major BEV Hurdles in Europe​

Stellantis (NYSE: STLA) shares slipped nearly 5% in premarket trading Monday after Bank of America (BofA) downgraded the auto giant’s stock from Buy to Neutral, citing mounting issues in Europe and fears of disappointing financial results. The bank also cut its price target dramatically—from €16 to €10, which translates to a drop from $17.25 to $10.78 USD.

Stellantis Shares Slide After BofA Downgrade Over Europe Worries

Stellantis shares slide nearly 5% after BofA downgrade. Concerns over Europe amplify fears of disappointing financial results.

moparinsiders.com

 

[patfromigh]

Europe is a mess. The EU bureaucrats are still shoving battery electric drive down everyone's throats. Stellantis can't build want Europeans really want because nobody wants to work for those slave wages they're offering in the Serbian facility. Meanwhile Italian workers are sitting idol. The Italian workers who volunteered to go to Serbia were abruptly sent home because of bureaucratic incompetence.

 

[MisterTrick]

I think one of the issues in Europe for Stellantis is they do not have a strong portfolio of luxury BEV offerings, the Maserati EVs turn off that market segment and no one wants and Alfa EV either it seems so they don't have a real volume competitor to Audi, MB or BMW in this sphere (in theory the DS No 8 would be it but the DS brand is basically a non-entity outside France)

they made the right step with the Citroën ë-C3 and Fiat Grande Panda and it's LFP batteries and pricing, but they really need get all their Peugeots & Opels EVs down in price to at least reach parity with Petrol options, using LFP, look into Na-ion and other ways to reduce costs