Tonix Pharmaceuticals stock halted ahead of FDA approval news
Investing.com - Jefferies upgraded Stellantis NV (BIT:STLA) (NYSE:STLA) stock rating from Hold to Buy on Wednesday, while raising its price target to EUR11.50 from EUR9.00.
The research firm cited data suggesting that the automaker’s earnings decline is poised to reverse course, with many of the company’s operating challenges described as "self-inflicted and fixable."
Jefferies highlighted that a new internal CEO could accelerate decision-making on overdue matters related to brands, manufacturing footprint, and technology development at the multinational automotive manufacturer.
The firm acknowledged that restructuring costs for Stellantis would be "material but manageable," noting that the company and its predecessors have historically demonstrated willingness to make "bold and creative capital allocation decisions."
While Jefferies expressed that regaining investor confidence "may take time," it set a price target of EUR11.50 (approximately $13.20) for Stellantis shares based on its improved outlook for the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.