Stellantis (NASDAQ:STLA) upgrade at Zacks Investment Research

Stellantis (NASDAQ:STLA – Get a rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note released Saturday to investors, Zacks.com reports. The company currently has a target price of $21.00 on the stock. Zacks Investment Research’s price target would indicate a potential upside of 9.66% from the current stock price.

According to Zacks, “Stellantis NV is an automobile manufacturer and mobility provider. Stellantis NV, formerly known as Fiat Chrysler Automobiles NV, is based in LIJNDEN, the Netherlands.”

A number of other analysts also commented on the stock. Societe Generale raised its price target on Stellantis shares from €23.00 ($26.14) to €28.00 ($31.82) and assigned the stock a “buy” rating in a note. search Friday. JPMorgan Chase & Co. cut its price target on Stellantis shares from €27.00 ($30.68) to €21.00 ($23.86) and set an “overweight” rating for the company in a research note on Thursday. Royal Bank of Canada began covering Stellantis shares in a research note on Wednesday, January 5. They issued an “industry performance” rating for the company. Finally, Citigroup began covering Stellantis shares in a research note on Monday, November 29. They issued a “buy” rating and a price target of $22.00 for the company. One research analyst gave the stock a hold rating and ten gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $23.40.

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NASDAQ:STLA opened at $19.15 on Friday. The company has a market capitalization of $38.77 billion, a P/E ratio of 127.68, a P/E/G ratio of 0.12 and a beta of 1.70. The company has a debt ratio of 0.53, a quick ratio of 0.92 and a current ratio of 1.12. Stellantis has a fifty-two week low of $16.05 and a fifty-two week high of $21.99. The company has a 50-day simple moving average of $19.56 and a two-hundred-day simple moving average of $19.64.

Several institutional investors and hedge funds have been buying and selling stocks recently. BlackRock Inc. increased its stake in Stellantis by 14.6% during the fourth quarter. BlackRock Inc. now owns 1,453,222 shares of the company valued at $27,262,000 after purchasing an additional 184,974 shares last quarter. Wexford Capital LP bought a new position in Stellantis during the fourth quarter valued at around $1,163,000. Forum Financial Management LP acquired a new position in Stellantis during the fourth quarter valued at approximately $413,000. KB Financial Partners LLC increased its stake in Stellantis by 29.2% during the fourth quarter. KB Financial Partners LLC now owns 22,852 shares of the company valued at $429,000 after purchasing an additional 5,169 shares last quarter. Finally, Channing Global Advisors LLC acquired a new position in Stellantis during the fourth quarter worth approximately $5,625,000. 52.44% of the shares are currently held by institutional investors.

Stellantis Company Profile (Get a rating)

Stellantis NV is an automotive company engaged in manufacturing automobiles and providing mobility solutions. It designs, designs, manufactures, distributes and sells vehicles under the brands Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Moper, Opel, Peugeot, Leasys, Free2move, Vauxhall and Ram.

Further reading

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Analyst Recommendations for Stellantis (NASDAQ: STLA)

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