BNP Paribas Exane Initiates Coverage on Stellantis (NYSE:STLA)

Key Points

• BNP Paribas Exane has initiated coverage on Stellantis (NYSE:STLA) with a neutral rating and a price target of $10.10, indicating a potential upside of 12.89%.
• Analysts' opinions on Stellantis are mixed, with Jefferies upgrading it to buy while Zacks downgraded it to strong sell; the consensus rating is currently "Reduce".
• Institutional investors hold nearly 59.48% of Stellantis shares, with Goldman Sachs significantly increasing its stake by 208% during the first quarter.

Equities research analysts at BNP Paribas Exane assumed coverage on shares of Stellantis (NYSE:STLA - Get Free Report) in a research note issued to investors on Monday. The firm set a "neutral" rating and a $10.10 price target on the stock. BNP Paribas Exane's price objective indicates a potential upside of 12.89% from the company's current price.

Several other equities analysts have also issued reports on STLA. Jefferies Financial Group upgraded Stellantis from a "hold" rating to a "buy" rating and lifted their price target for the company from $10.25 to $13.20 in a research note on Wednesday, June 25th. Zacks Research cut Stellantis from a "hold" rating to a "strong sell" rating in a research report on Monday, August 25th. Wolfe Research cut shares of Stellantis from a "peer perform" rating to an "underperform" rating in a report on Wednesday, July 2nd. Finally, Bank of America downgraded shares of Stellantis from a "buy" rating to a "neutral" rating and reduced their price target for the company from $16.50 to $11.75 in a research note on Monday, July 7th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $12.21.

Stellantis Stock Performance

Shares of NYSE:STLA traded down $0.13 on Monday, reaching $8.95. 13,987,909 shares of the company's stock were exchanged, compared to its average volume of 17,242,814. Stellantis has a twelve month low of $8.39 and a twelve month high of $16.29. The company has a fifty day moving average of $9.63 and a 200-day moving average of $10.27. The company has a market capitalization of $27.05 billion, a price-to-earnings ratio of 2.62, a PEG ratio of 0.54 and a beta of 1.46. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On Stellantis

A number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings in Stellantis by 208.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 95,367,261 shares of the company's stock worth $1,069,067,000 after acquiring an additional 64,406,866 shares during the period. Norges Bank bought a new stake in shares of Stellantis during the 2nd quarter valued at about $384,724,000. Deutsche Bank AG bought a new stake in shares of Stellantis during the 1st quarter valued at about $368,520,000. Amundi grew its stake in Stellantis by 41.0% during the second quarter. Amundi now owns 110,680,258 shares of the company's stock worth $1,143,327,000 after purchasing an additional 32,206,884 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in Stellantis by 318.6% in the first quarter. Hsbc Holdings PLC now owns 11,808,556 shares of the company's stock worth $130,893,000 after purchasing an additional 8,987,548 shares in the last quarter. 59.48% of the stock is currently owned by institutional investors.

About Stellantis

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide. It provides luxury and premium vehicles; sport utility vehicles; American and European brand vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.

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