0706 GMT - Stellantis stock is down 70% from the peak, but that doesn't automatically make it cheap, Citi analysts write. Shares have recovered in the past few weeks on optimistic CEO commentary and on the first positive month of U.S. sales for three years--with September U.S. sales up 14% on year. Weirdly, the U.S. sales increase has come before any real new vehicles have hit the market, Citi adds. However, Stellantis earnings and balance sheet remain precarious. "We think Stellantis has to recover its adjusted operating income by around 7 billion-8 billion euros a year to recover EPS to around 2 euros to make the shares cheap enough. This doesn't seem likely at this time." Renault and Volkswagen enterprise values are much lower and cheaper than Stellantis, it adds. Shares rise 1.6% to 8.96 euros. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

October 03, 2025 03:07 ET (07:07 GMT)

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