Stellantis NV (STLA), the multinational automotive corporation, saw its stock plummet by 5% in intraday trading on Thursday. The sharp decline came amid a wave of analyst downgrades and concerns about the company's future prospects in the face of industry challenges.
According to reports, Wells Fargo reiterated its "Sell" rating on Stellantis, citing concerns about the company's ability to navigate the rapidly evolving automotive landscape. Deutsche Bank also lowered its price target on the stock from €14 to €12, reflecting a more cautious outlook.
The downbeat sentiment towards Stellantis seems to be driven by a combination of factors, including the ongoing supply chain disruptions, rising costs, and the intensifying competition in the electric vehicle market. Additionally, President Trump's recent threats to impose tariffs on European Union-made vehicles have further exacerbated concerns about the company's performance, particularly in key markets like the United States.
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