HSBC cuts Ferrari (RACE) to Hold, upgrades Porsche on China exposure

French EV subsidy change challenges China-made market

France, on Thursday, released a list of cars indicating which vehicles qualify for the countrys newly updated regulations. The new updates cover consumer incentives for buying electric cars, prioritizing vehicles manufactured in France and Europe over those produced in China.

Approximately 65% of electric cars sold in France will meet the requirements outlined in the scheme. Starting Friday, the updated criteria will also consider the quantity of carbon emissions during the manufacturing process of an electric vehicle.

Among the qualifying models listed, 24 are manufactured by the Franco-Italian group Stellantis (NYSE:... More

Indonesia eases tax rules on EV imports in bid to attract investment

The Indonesian government released details of new regulations, signed December 8th, designed to attract investors looking to build electric vehicle (EV) plants in the country.

The new regulations will grant automakers that plan to build electric vehicle plants tax incentives on their imports of completely built EVs until 2025.

Under the plan, companies that have already invested in EV plants, intend to boost their EV investments, or have plans for future investments in this sector... More

Exane BNP Paribas Downgrades Ferrari NV (RACE:IM) (RACE) to Neutral

Exane BNP Paribas analyst Giulio Pescatore downgraded Ferrari NV (RACE:IM) (NYSE: RACE) from Outperform to Neutral with a price target of EUR367.00.

Stellantis NV (STLA:IM) (STLA) PT Raised to EUR25 at BofA Securities

BofA Securities analyst Horst Schneider raised the price target on Stellantis NV (STLA:IM) (NYSE: STLA) to EUR25.00 (from EUR23.00) while maintaining a Buy rating.... More

HSBC Downgrades Ferrari NV (RACE:IM) (RACE) to Hold, 'Limited earnings upgrade potential'

(Updated - December 13, 2023 4:51 AM EST)

HSBC analyst Michael Tyndall downgraded Ferrari NV (RACE:IM) (NYSE: RACE) from Buy to Hold with a price target of EUR340.00 (from EUR325.00).

The analyst comments "It is difficult to punch holes in the Ferrari... More

Stellantis NV (STLA:FP) (STLA) PT Raised to EUR24 at Morgan Stanley

Morgan Stanley analyst Harald Hendrikse raised the price target on Stellantis NV (STLA:FP) (NYSE: STLA) to EUR24.00 (from EUR20.00) while maintaining a Overweight rating.... More

Stellantis NV (STLA) PT Raised to $26 at Morgan Stanley

Morgan Stanley analyst Harald Hendrikse raised the price target on Stellantis NV (NYSE: STLA) to $26.00 (from $22.00) while maintaining a Overweight rating.... More

UAW accuses VW, Hyundai, and Honda of illegal union busting

The United Auto Workers (UAW) union announced Monday that workers organizing with the UAW at Honda (NYSE: HMC) in Indiana, Hyundai in Alabama, and Volkswagen in Tennessee, have filed charges against management for illegally union-busting.

The union, riding high on recent wins in Detroit, has been collaborating with employees from 13 different automakers to unite their workforce. Altogether, approximately 150,000 autoworkers are covered by this union effort.

These companies are breaking the law in an attempt to get... More

Wells Fargo starts Stellantis (STLA) at Underweight ahead of industry headwinds

Wells Fargo initiated coverage on Stellantis (NYSE: STLA) with an underweight rating and a 12-month price target of 18.

We believe the market is likely underestimating the magnitude of the structural challenges that the industry faces over the next few years. Wrote Wells Fargo analysts in a note.

Key headwinds include... More

Wells Fargo Starts Stellantis NV (STLA:FP) (STLA) at Underweight, 'cautious view on the industry into 2024 and beyond'

(Updated - December 11, 2023 5:11 AM EST)

Wells Fargo analyst Colin Langan initiates coverage on Stellantis NV (STLA:FP) (NYSE: STLA) with a Underweight rating and a price target of EUR18.00.

The analyst comments "We initiate on STLA with an UW rating & 18... More

Stellantis NV (STLA:IM) (STLA) PT Raised to EUR24 at Morgan Stanley

Morgan Stanley raised its price target on Stellantis NV (STLA:IM) (NYSE: STLA) to EUR24.00 (from EUR20.00) while maintaining a Overweight rating.... More