Stellantis stock nears its 4.35 € support after a quarter down 24%

Berenberg lowers its target to 5.10 € and downgrades from buy to hold

On Wednesday, September 16, Berenberg revised its opinion on Stellantis by lowering its price target from 7.80 € to 5.10 € and downgrading its rating from "buy" to "hold". This revision represents a cut of more than one-third on the price target, and comes after Morgan Stanley also downgraded the carmaker on September 14, moving it to underweight. The stock thus remains under fire from multiple brokerages, in a context where annual performance is down 46.91%.

Even after this sharp decline, Berenberg's 5.10 € target offers a theoretical rebound potential of approximately 17% from the current price, illustrating the extent of the downward movement. Over the week, Stellantis loses 3.71%, extending a difficult quarter marked by a 24.42% decline. According to the consensus of surveyed analysts, the stock is trading at approximately 7.6 times the expected earnings for the current fiscal year, a modest multiple that reflects the uncertainties weighing on the group's margins.

A stock below all its moving averages, just a few cents away from its support

At 4.37 €, Stellantis is trading well below its three moving averages: the 20-day MA at 4.58 € (gap of -4.61%), the 50-day MA at 4.77 € (-8.41%) and the 200-day MA at 6.51 € (-32.89%). This configuration reflects a downtrend established across all timeframes. The 4.35 € support is now close, with less than 0.5% gap from the current price, making it the most watched threshold of the session.

The RSI at 44 remains neutral, with no marked signal of selling exhaustion, which does not suggest an imminent technical rebound. The VIX, at 15.33 on Friday against 17.71 the day before, indicates a calming of general market nervousness, but this decline in implied volatility is not yet benefiting the stock. In this context, the next major communication for Stellantis will be the Paris Motor Show, where the group will present nine concept cars, offering a platform to detail its roadmap through 2030.