NuWays downgrades Steyr Motors to hold, cuts price target to EUR 39 from EUR 49
RCAT•NuWays downgraded Steyr Motors to Hold from Buy and cut its 12-month price target to EUR 39 from EUR 49, matching Red Cat’s cash offer. It cited takeover-related risks, including uncertain settlement timing and lower expected trading liquidity after a planned delisting.
1. Target cut on takeover risks
NuWays downgraded Steyr Motors to Hold from Buy in its November 11 report and cut its 12-month price target to EUR 39 from EUR 49, matching Red Cat’s cash offer. NuWays said Red Cat’s planned delisting and lower expected trading liquidity limit shareholders’ ability to realize standalone upside. Regulatory clearances are due by June 30, 2027, after the initial December 18, 2026, acceptance deadline, leaving settlement timing uncertain. Both boards unanimously recommend accepting the offer, and B&C has committed to tender its approximately 15% stake.
