Stellantis price target lowered to EUR 12 from EUR 13 at RBC Capital

RBC Capital lowered the firm’s price target on Stellantis (STLA) to EUR 12 from EUR 13 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q3 results for global automakers. Sector shares have pulled back, and while consensus numbers have been scaled down, there is further downside risk to estimates amid bearish macro sentiment, with many investors wondering a deflationary period after post-pandemic price hikes has arrived, the analyst tells investors in a research note.