(Il Sole 24 Ore Radiocor) – Shooting for Stellantis in Piazza Affari after the accounts, with the title that earns more than 5% and returns above 17 euros, a threshold that it has not seen since June 28 last. Revenues for the six months increased to 75.3 billion pro-forma (72.61 billion non-pro-forma), with a net profit of 5.9 billion (5.8 billion euro non-pro-forma) over the consensus of 5.58 billion in profit and 72.6 billion in revenues. Additionally, Stellantis raised its 2021 guidance, now expecting an adjusted operating profit margin of around 10%, versus a previous estimate of between 5.5% and 7.5%, assuming there will be no further deterioration in the supply of microchips and significant restrictive measures against Covid-19 in Europe and the United States.
For analysts “numbers exceed estimates, good ebit”
Positive comments from Jefferies analysts, who have a buy rating on the stock with a target price of 22 euros. EBIT is better “in all regions” and analysts underline the “strong improvement in guidance”. The numbers also exceed Equita’s estimates, which expected revenues in the six months of 72.05 billion.
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Stellantis also raised its North American car market forecasts for 2021. The auto group expects the North American market to grow by 10% compared to 2020, against the previous estimate of + 8%. On the other hand, expectations remain unchanged for all the other markets of presence of the group born from the merger between FCA and PSA: South America + 20%, Enlarged Europe + 10%, Middle East and Africa + 15%, India and Asia Pacific +10 %, China + 5%.