Stellantis avoids sales in Piazza Affari, where it shows an increase of 0.88% to 14.9 euros. The stock of the European auto group goes up on the stock market despite weak registrations in Western Europe (EU + EFTA + UK) in February. The group, born from the merger between FCA and PSA, in fact closed last month with a drop in registrations of 22.4% against -20.3% of the market. Market share fell from 24 percent to 23.4 percent. Two brands contained the contraction: Peugeot, which showed a decline of 12.2%, but above all Jeep, which saw the decline amounting to 5.3%.
“The Stellantis group underperformed with a drop of 22% to 199 thousand units (-25% from the beginning of the year) with only Jeep (-5% and -10% YTD) and Peugeot (-12% and -15% YTD) clearly outperforming ”, Comment the Equita analysts who maintain the buy valuation on Stellantis with a target of 18.2 euros. “The data – explain from the sim – is consistent with the annual estimates in view of the inevitable recovery from March which is compared with the effects of the spring lockdown of 2020. We update the target (-4%) only to take into account the detachment of the shares Faurecia “.