The deadline for exercising the withdrawal expires today at the price of 7,727 euros. And so yesterday the Fiat stock it was at the center of strong downward pressure, closing at -2,91% at a level of 7,175 euros. However, it was above all that favored the decline the Crédit Suisse report which yesterday started hedging the stock with an underperform rating and a target price of 6 euros.
“Despite Marchionne's successes over the last 10 years – we read – we see few opportunities to surprise us positively about the group's strategy”. “Perhaps – continues the report. The only surprise that could have a positive impact on the Fiat stock could be the partial IPO of Ferrari. But we see little interest from executives and investors in this deal."
On the contrary, "the five-year plan up to 2018 appears too optimistic and there is a potential decrease in the estimates for 2014 following a weak first half". The level of debt (9,7 billion euros) is "unsustainable" in perspective, therefore "the listing on the US stock exchange could be "the first step towards a capital increase".
Slightly positive opening for the stock today: in Piazza Affari Fiat debuts with a +0,14% to 7,185 euros.
