1201 GMT - Citi has a positive view on the European auto sector, but there are concerns about Stellantis, the bank says. Shares have halved since peak, analysts Harald C Hendrikse and Soumava Banerjee note. A once 13% adjusted operating income margin business could report as low as 0% margin for the second half of 2024, they say. Investors don't know who the next CEO will be, or therefore how the company strategy will develop, they add. It is also difficult to understand everything that has gone wrong with Stellantis or how to fix it, Citi says. "On that basis, how could we recommend Stellantis to investors?" Citi closes its positive short-term view on the stock and keeps at neutral. Shares trade 0.3% higher at 13.52 euros. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
February 24, 2025 07:01 ET (12:01 GMT)
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