Nomura updated Stellantis NV (New York Stock Exchange: STLA) to a Buy rating from Neutral on Wednesday.
“We welcome management's acknowledgement of the issues affecting Stellantis' North American business and its determination to address those challenges,” Nomura analyst Anindya Das said.
Das believes investors may be overly concerned about Stellantis' (STLA) high inventory and aging model lineup in North America, and highlights the 28% year-to-date decline for Stellantis (STLA) compared to gains for other traditional OEM auto stocks.
Geneva Investor has ranked Stellantis (STLA) among the top automotive stocks on Seeking Alpha. Stellantis (STLA) offers different, unique and locally relevant vehicles using the same automotive platforms. “In this way, the company can achieve economies of scale while remaining relevant to different markets and customer segments,” Geneva Investor noted.
Stellantis (STLA) shares rose 0.35% On Wednesday, in pre-market trading, the stock traded at $16.81 versus its 52-week trading range of $16.64 to $29.51. The dividend yield for new buyers of the auto stock is 7.30%.