(News Bulletin 247) – RBC raised its recommendation on Stellantis on Friday from ‘performance in line with the sector’ to ‘outperformance’ with a price target maintained at 19 euros.
In a research note released in the morning, the broker explains that he has returned from a recent interview with Richard Palmer, the automotive group’s financial director, with a more favorable opinion on the matter.
RBC supports its optimism by the position of advantage in terms of operating margin that the manufacturer displays vis-Ã -vis American competitors such as Ford or GM.
The broker also believes that the scenario of an IPO of Maserati is very likely, with a valuation that could come out between five and 10 billion euros according to him.
In this context, RBC says it expects Stellantis to redistribute capital to its shareholders “more aggressively” than its European counterparts.
The title is now its favorite value among mainstream automakers.
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