On Wednesday, Bernstein downgraded its opinion on Stellantis shares from 'outperform' to 'perform in line', with the target price maintained at 25 euros.

In a research note, the analyst points out that the automaker's share price has climbed 43% over the past six months, a performance he attributes to the group's improved margins and cash flow.

Nevertheless, the intermediary believes that the share is now trading in line with its intrinsic value in view of the sector's valuations, leading him to steer clear of the stock pending the June 24 investor meeting, which could determine the next steps in the roadmap.

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