** Piper Sandler revises higher its rating on Stellantis STLAN.N to "overweight" from "neutral", citing potential for "rapid" upside if "faster-thank-expected" margin expansion is achieved

** Raises PT for NY-listed shares to $15 (12.85 euros) from $9

** Expects adjusted operating margin of 3.6% in 2026 and 4.7% in 2027, implying "very strong but doable" incremental margin of at least 30%

** Sees turnaround in U.S., most important region for the Franco-Italian automaker, as "likely"

** New product launches expected in 2026 should boost gains as co's U.S. market share has bottomed out, it notes

** Calls joint venture with Chinese electric vehicle $(EV)$ maker Leapmotor 9863.HK "intriguing", offers unique way to impact Chinese competition

** Out of 11 analysts that cover Stellantis NY-listed shares, ​one rates the stock "buy",​​ seven rate "hold" and three​ rate the stock "strong sell" or "sell", with median PT $10.25 - LSEG data

(1 euro = $1.1672)

(Reporting by Philippe Leroy Beaulieu in Gdansk)

((Philippe.leroybeaulieu@tr.com))