FCA resumes the rally. Even for Exane, it is now to be bought

FCA shines on the Ftse

The stock, photographed yesterday at the close in a fall of 0.85% after having strung together eight consecutive sessions in positive territory, was photographed at 2.40 pm at 14.72 euros, up 1.47% and with around 5.4 million shares traded on the market so far, against a daily average of 10.5 million shares in the last three months.

FCA: promoted by Exane

The action is driven by some positive indications coming from several investment banks this morning, starting with Exane BNP Paribas, which raises its recommendation from Neutral to Outperform, with a target price raised from 15 to 17.5 euros.

Meanwhile, the view on the title of Jefferies's colleagues has clearly improved, confirming their Buy rating already assigned in a previous note, with a target price that rises from 14 to 17 euros, after which the S&P Global agency has put in Creditwatch positive last week the rating on FCA's debt in view of the merger with PSA

FCA-PSA: the words of Tavares

In this regard, support for the listing of Fiat Chrysler has also arrived in the meantime from some comments by the CEO of Peugeot, Carlos Tavares, who justified the generous valuation assigned to the house of the Lingotto with the advantageous position in governance that the agreement merger assigns to Peugeot.

"If we talk about the prize, we need to talk about the governance of the new entity, and this is not to our disadvantage," the manager said in an interview according to the newspaper Les Echos.