Jefferies upgraded Stellantis (STLA) to Buy from Hold with a price target of EUR 11.50, up from EUR 9. Data suggests the earnings slide is about to turn, the analyst tells investors in a research note. While autos look more challenged than ever, many Stellantis operating issues are self-inflicted and fixable, Jefferies adds, also noting that the company’s restructuring costs are “material but manageable”.
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