HSBC has downgraded Stellantis NV to "reduce" from "hold," cutting its price target to €4 from €5.50. The downgrade contributed to a decline in Stellantis shares during Paris trading.
Analysts at the bank cited concerns over high U.S. inventory, which reached 93 selling days in June 2026, approaching a peak set in 2024. They also highlighted unresolved quality issues, noting that Stellantis has issued 19 recalls covering 2.5 million vehicles in the U.S. year-to-date, alongside 47 recalls in Europe in the first half of 2026. As a result, HSBC has significantly lowered its 2026 financial forecasts for the automaker.