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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Fiat Chrysler Automobiles    FCA   NL0010877643

FIAT CHRYSLER AUTOMOBILES

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Europe's car stocks rally as BAML backs autos as 'contrarian' buy

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03/20/2019 | 05:41am EDT

LONDON (Reuters) - Europe's autos and suppliers index climbed 2.4 percent on Tuesday after Bank of America Merrill Lynch analysts recommended contrarian investors buy select carmakers after a survey showed investors grew more bearish on the sector.

Autos fell to the 15th most favoured sector out of 19 European sectors, from 8th in February, BAML's March fund manager survey found.

But this pessimism on the sector combined with valuations near all-time lows make for a "very compelling" contrarian argument for buying European carmakers, according to BAML analysts.

"After a dismal 2018 for the EU autos sector, we see pockets of value emerging with the bright spot being the OEMs (original equipment manufacturers), specifically German versus French," they wrote.

The STOXX 600 autos & suppliers sector index sank 28 percent in 2018, but has had a strong start to 2019 - up about 14.3 percent year-to-date. On Tuesday, it was the best performing sector in Europe and set for its best day in a month.

BAML's top picks are Daimler, VW, Porsche, and Peugeot owner PSA.

The auto analysts said they are more cautious on suppliers but remain positive on tyre stocks, preferring Continental over Valeo.

(Reporting by Helen Reid, Editing by Josephine Mason)

Stocks mentioned in the article
ChangeLast1st jan.
CONTINENTAL -2.89% 140.9 Delayed Quote.20.17%
DAIMLER AG -2.16% 51.72 Delayed Quote.15.14%
FIAT CHRYSLER AUTOMOBILES -2.51% 13.046 End-of-day quote.5.52%
PEUGEOT -3.23% 22.15 Real-time Quote.22.77%
PORSCHE HOLDING -2.21% 56.52 Delayed Quote.11.93%
STOXX EUROPE 600 -0.90% 380.84 Delayed Quote.13.81%
VALEO -3.21% 27.1 Real-time Quote.9.76%
VOLKSWAGEN -2.69% 143.92 Delayed Quote.6.46%
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Financials (€)
Sales 2019 112 B
EBIT 2019 7 006 M
Net income 2019 4 766 M
Finance 2019 4 890 M
Yield 2019 4,54%
P/E ratio 2019 4,34
P/E ratio 2020 4,31
EV / Sales 2019 0,14x
EV / Sales 2020 0,12x
Capitalization 20 737 M
Chart FIAT CHRYSLER AUTOMOBILES
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Technical analysis trends FIAT CHRYSLER AUTOMOBILES
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 15,1 €
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
Michael Mark Manley Chief Executive Officer & Executive Director
John Jacob Philip Elkann Chairman
Richard Keith Palmer CFO & COO-Systems & Castings
Harald J. Wester Chief Technology Officer
Andrea Agnelli Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
FIAT CHRYSLER AUTOMOBILES5.52%23 532
SAIC MOTOR CORPORATION-0.26%46 299
MARUTI SUZUKI INDIA-8.58%29 931
FERRARI34.42%24 875
BYD COMPANY LIMITED--.--%20 963
GUANGZHOU AUTOMOBILE GROUP CO LTD19.95%16 315