It seems the folks managing Piazza Affari forgot to pack an airbag for Stellantis shareholders. On Friday, August 7, 2026, while the rest of the Milan stock exchange enjoyed a relatively peaceful session, Stellantis stock took another nose-dive, dragging itself down into the depressing neighborhood of €4.70 per share.
Wall Street analysts have officially traded their cheerleading pom-poms for sharp red pens, expressing deep skepticism about the automaker’s ability to resurrect its operating margins or fix its sprawling, inventory-choked American nightmare.
The first financial sledgehammer came courtesy of Swiss banking giant UBS. Their analysts downgraded Stellantis straight from a cozy “Buy” down to “Neutral,” while mercilessly chopping the target price by nearly 39%, dragging it down from €9.50 to a modest €5.80.
The core issue? The turnaround effort in North America, currently spearheaded by Antonio Filosa, is moving with the urgency of a rusted gear shift. American dealership lots are overflowing with unbought metal, and clearing out those shiny mountains of vehicles will require massive cash-burning customer incentives, painful factory production cuts, or a toxic cocktail of both.
Consequently, UBS slashed its 2026 adjusted operating income expectations to approximately €3 billion with a razor-thin 1.9% margin, offering only a mild rebound for 2027 at €4.7 billion and a 2.9% margin.
If you thought UBS was harsh, Bernstein decided to double down on the bad news. Putting an end to circulating internet rumors, Bernstein did the exact opposite, slashing the target from €6.20 down to a rock-bottom €4.00 and downgrading the stock from “Market Perform” to “Underperform”. Pointing directly at late-July earnings figures, Bernstein highlighted an overall group operating margin of just 1.8%, while the once-lucrative North American region dragged its feet with a pathetic 1.6% margin.
Across the Atlantic, the European side of the business isn’t providing much comfort either. European sales volumes remain stubbornly flat, burdened by an unfavorable product mix that fails to deliver healthy profit margins. Now, Stellantis finds itself backed into a corner, desperately trying to convince jittery investors that offering a smorgasbord of combustion engines, hybrids, and electric vehicles can actually translate into real, bottom-line profitability.