Stellantis ' strong growth outlook should successfully mitigate any headwinds from the ongoing United Auto Workers strike, according to Barclays.
Barclays' price target of €22.5, or $23.74, implies more than 20% upside from Stellantis' $19.68 close Friday afternoon.
Despite this, Stellantis' stock is still trading near its all-time highs after rallying close to 40% so far this year.
STLA YTD mountain STLA ytd chart Analyst Henning Cosman acknowledged that many investors may be reluctant to jump into the stock at its current elevated levels.
As another risk factor, Cosman believes the company will not be able to report a clean set of earnings until July 2024 or August 2024 given the current strike.
Persons:
Stellantis, Henning Cosman, Cosman, Carlos Tavares, Michael Bloom
Organizations:
United Auto Workers, Barclays, UAW, EU, US Auto
Locations:
Amsterdam