Stellantis Shares Jump on Cost Cuts
Stellantis shares surged after the carmaker expressed confidence in beating cost-saving targets. The automaker reaffirmed its outlook and expects a return to positive cash flow by 2027 following better operating income.
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STELLANTIS NV shares surged 14.3% during Wednesday midday trading after the automaker reported third-quarter operating income and raised its cost-saving targets. The rally offers fresh momentum for the automaker following a steep valuation decline over the past two years. Investors are closely monitoring the turnaround strategy as management targets a return to positive cash flow by 2027.
