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Investing.com - JPMorgan has reiterated an Overweight rating on Stellantis NV (EPA:STLA) (NYSE:STLA) with a price target of €11.00 following the automaker’s preliminary first-half results.
The automaker reported preliminary first-half numbers on Monday, showing adverse impacts to adjusted operating income from higher industrial costs, geographic and other mix factors, and changes in foreign exchange rates.
Stellantis recorded approximately €3.3 billion in pre-tax net charges, primarily related to program cancellation costs, platform impairments, the net impact of recent legislation eliminating the CAFE penalty rate, and restructuring expenses.
The company’s industrial free cash flow came in negative at -€3 billion for the period, while management indicated the results reflect early stages of actions being taken to improve performance and profitability.
JPMorgan noted that new products are expected to deliver larger benefits in the second half of 2025, suggesting potential improvement in the company’s financial performance in the coming months.
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