Stellantis Stock Rises 6.5% Weekly Despite $26.5B EV Writedown, HSBC and Morgan Stanley Adjust Targets
Stellantis shares rose 6.46% last week to $7.75 after closing at $7.28 the prior Friday, but remain down 44% over the past year and 32% year-to-date. The automaker announced a $26.5 billion EV business writedown and saw HSBC lift its price target to €10 while Morgan Stanley set €9.20.
1. Weekly Stock Performance
Stellantis shares closed at $7.75 on Feb. 13, up 6.46% from $7.28 the previous Friday, delivering a robust weekly bounce as investors reacted to recent updates.
2. Year-to-Date and Annual Declines
The stock remains down 32% since the start of the year and 44% over the past twelve months, reflecting ongoing margin pressures and slowing demand in key markets.
3. Analyst Rating and Target Changes
HSBC raised its Stellantis price target to €10 with a Hold rating, while Morgan Stanley downgraded to Equal Weight but lifted its target to €9.20, citing balanced growth prospects and cost concerns.
4. $26.5B EV Writedown and Liquidity Outlook
The company recorded a $26.5 billion writedown on its electric vehicle business, and commentators, including Jim Cramer, stressed that Stellantis retains sufficient liquidity to fund its electrification strategy.