Jefferies analyst Philippe Houchois downgraded Stellantis to Hold from Buy with a price target of $16.44, down from $27.30. The analyst says the company is “more efficient than competitive” given the CEO’s “single-minded focus on cost.” While Stellantis offers good capital efficiency, a global footprint and low-cost manufacturing, it must address its brands, capacity and marketing skills to become attractive, the analyst tells investors in a research note.
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