BofA/Merrill Lynch Upgrades Fiat Chrysler Automobiles NV (FCAU) to Neutral

BofA/Merrill Lynch upgraded Fiat Chrysler Automobiles NV (NYSE: FCAU) from Underperform to Neutral with a price target of $18.00 (from $9.00).

Analyst John Murphy says the stock is fairly balanced from a risk.reward perspective but sees better opportunities elsewhere in the universe. The analyst comments "We believe FCA’s recent execution adds a bit more credence to its longer-term plan, which is now being accounted for in our forward estimates, but we would note the balance sheet remains a material risk."

For an analyst ratings summary and ratings history on Fiat Chrysler Automobiles NV click here. For more ratings news on Fiat Chrysler Automobiles NV click here.

Shares of Fiat Chrysler Automobiles NV closed at $14.85 Friday.

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