Stellantis (STLAM.MI) shares fell 1.23% in Milan following a double downgrade by Piper Sandler. The firm lowered its rating to Underweight from Overweight. Analysts significantly reduced the price target for U.S.-listed shares to $4 from $14.
The downgrade reflects deteriorating market conditions across Europe, Latin America, and the Middle East. Piper Sandler highlighted increasing competition from vertically integrated Chinese brands that are rapidly gaining market share.
This move follows recent downgrades from JPMorgan and HSBC, which both cited high U.S. dealer inventory levels. Stellantis is scheduled to report its second-quarter financial results on July 30.