HSBC cuts PT for US automakers; says rate cuts could eventually improve demand
** HSBC Global Research cuts Ford F.N, Stellantis STLAM.MI PT
** Says Fed rate cuts should eventually lead to a cyclical improvement in car demand but adds that it could take some time
** But adds recession fears could affect car sales
** Brokerage says Ford's lack of a clear EV strategy, with new models for consumers expected only in 2027, remains a concern
** The new price target represents an 11% upside to STLAM's last close and a 14% upside to Ford's last close
** Up to Friday's close, F down 9% and STLAM down 35% YTD
Company | New PT | Old PT | Rating |
Ford | $12.5 | $13 | Hold |
Stellantis | EUR 15 ($16.67) | EUR 18 ($20.00) | Hold |
($1 = 0.9000 euros)
Reporting by Anshuman Tripathy in Bengaluru
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