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Stellantis downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Javier Martinez de Olcoz Cerdan downgraded Stellantis (STLA) to Equal Weight from Overweight with a price target of $10.90, up from $9.60. The firm says the company’s product improvement is not translating into clear share gains yet. This could put pressure on Stellantis’s margin and free cash flow, the analyst tells investors in a research note. Morgan Stanley’s longer term estimates for the company are below consensus.

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