Jefferies Reiterates a Buy Rating on Stellantis N.V. (STLA), Sets a 11 PT

Stellantis N.V. (NYSE:STLA) is one of the best affordable stocks to buy under $20. Jefferies analyst Philippe Houchois reiterated a Buy rating on Stellantis N.V. (NYSE:STLA) on October 20, setting a €11 price target for the stock.

Separately, Stellantis N.V. (NYSE:STLA) announced on October 14 plans to invest $13 billion over the coming four years to support business growth in the critical US market and expand its domestic manufacturing footprint.

Management stated that the investment marks the largest in the company’s 100-year US history, and is expected to help several aspects for the company, including the introduction of five new vehicles across the brand portfolio in key segments, the “addition of more than 5,000 jobs at plants in Illinois, Ohio, Michigan and Indiana”, and the “production of the all-new four-cylinder engine”.

Stellantis N.V. (NYSE:STLA) also reported that the new investment would further increase the company’s already notable US footprint, expanding the annual finished vehicle production by 50% over current levels.

Stellantis N.V. (NYSE:STLA) designs, manufactures, distributes, and sells vehicles. The company offers products under various brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Opel, Peugeot, Ram, and Vauxhall.

While we acknowledge the potential of STLA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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