On September 18, Stellantis NV fell 5.15% in regular trading, trading at $4.775/share, with turnover of approximately $66.87 million. The stock has come under intense selling pressure following a wave of analyst downgrades and mounting operational headwinds.
On the ratings front, Berenberg on September 16 downgraded Stellantis from Buy to Hold, slashing its price target from EUR 7.80 to EUR 5.10. This followed Morgan Stanley's downgrade on September 14 from Equalweight to Underweight, which had already triggered a 2.31% decline. Earlier, UBS also cut its rating to Neutral from Buy, citing stalled U.S. business recovery. The consensus average rating now stands at Hold with a mean target of EUR 5.37.
Operationally, contract negotiations with Canadian union Unifor have reached deadlock over the future of the Brampton Assembly Plant, where roughly 2,200 workers remain on indefinite layoff. The company declared the facility commercially unviable long-term and signed a memorandum with armored vehicle maker Roshel for a potential sale. Separately, Stellantis is reportedly seeking to divest its stake in Aramis Group, while large-scale vehicle recalls continue to weigh on sentiment.
The broader Automobile Manufacturers sector traded broadly lower, with General Motors down 4.91%, Ford down 3.93%, Rivian down 2.60%, Ferrari down 1.76%, and Tesla down 0.67%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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