Barclays has reaffirmed its 'overweight' recommendation on Stellantis, with a target price of 24 euros, following the French-Italian-American automaker's June 12-13 investor meeting in Detroit.

We appreciate management's acknowledgement of its mistakes, but the management of US inventories will require a price-mix rebalancing", says the broker, who sees "2024 as a year of transition, with proof of execution required for the share to perform".

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