2024-07-18 11:21:03 ET
Summary
- Stellantis focuses on third-engine markets, aggressive supply chain optimization, and high shareholder returns.
- On the capital allocation priorities, we see scope for a double-digit total return, combining dividend and buyback.
- Despite a leading role in operating margin performance, Stellantis trades at a discount vs. peers. Our buy rating is then confirmed.
Here at the Lab, we have a good grip on the European automotive coverage ( Volkswagen , Renault , Ferrari , Aston Martin , and Mercedes ). In our deep-dive analysis, we also look at automotive holding companies such as Porsche Automobil and Exor , Stellantis' ( STLA ) main shareholder (with an equity stake of 14.87%). As a reminder, Stellantis is a merger between FCA and PSA and is the Number 4 carmaker globally by units sold. 50% of the group's core operating profit comes from the highly profitable North American region with SUVs and pick-up trucks. Stellantis' portfolio covers a wide range of cars....
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For further details see:
Stellantis: It's Time To Look Beyond H1