Stellantis (STLA) Was Devastating, Says Jim Cramer

We recently published 13 Stocks Jim Cramer Talked About.  Stellantis N.V. (NYSE:STLA) is one of the stocks that Jim Cramer talked about.

Car manufacturing giant Stellantis N.V. (NYSE:STLA)’s shares are down by 44% over the past year and by 32% year-to-date. HSBC discussed the firm in mid-January. The bank increased the price target to EUR 10 from EUR 8.5 and kept a Hold rating on the shares. HSBC commented that Stellantis N.V. (NYSE:STLA) could benefit from predictability in the automotive sector in 2026. Morgan Stanley discussed the shares in early February. The bank reduced the rating to Equal Weight from Overweight and raised the share price target to EUR9.20 from EUR8.50. It explained that Stellantis N.V. (NYSE:STLA)’s investments, product pipelines, and other parameters could negatively affect the firm’s margins, balance sheet, and other financial indicators. The firm’s stock sank by a whopping 20% earlier this month after it announced that it would take a $26.5 billion electric vehicle business writedown. Cramer believes Stellantis N.V. (NYSE:STLA) has enough money to execute:

Ritu Manoj Jethani / Shutterstock.com

“Oh man, well it could have been Ford. . .this thing was devastating. Look there are people who say that they don’t have enough money to do this, I think they do.”

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Disclosure: None. This article is originally published at Insider Monkey.