Citi analyst Harald Hendrikse lowered the firm’s price target on Stellantis to EUR 19.50 from EUR 22 and keeps a Neutral rating on the shares. The analyst says a combination of weaker Stellantis and sector results in Q1, consensus downgrades, reduced rate cut expectations, and most recently the French election uncertainty mean the shares are now down 15% year-to-date. The firm says the company’s U.S. problems won’t be solved until the inventory is solved.
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