The Dow Jones Industrial Average edged up to 51,307.79 on Wednesday as auto and transport sector news moved several stocks amid a roundup of Market Talks published by Dow Jones Newswires. The Dow’s modest rise came as the broader market processed a mix of corporate announcements from Stellantis, Ferrari, Renault, and easyJet.
Stellantis shares rose 0.4% to 6.70 euros after the automaker unveiled its 2028 and 2030 financial targets. Berenberg analyst Romain Gourvil wrote in a note that the targets are “materially ahead of consensus expectations.” The company’s plan involves restoring profitability through operational efficiencies, focusing on core brands, renewing its product lineup, and relying heavily on a recovery in U.S. sales volumes. Stellantis is guiding for North American margins to return to 8% to 10% by 2030, from operating losses in 2025, alongside 25% revenue growth. Gourvil said the plan would see the U.S. comprise about 55% of group profit. “However, the implied circa 35% volume growth assumptions may initially be met with scepticism by investors due to the softer industry growth environment,” he wrote. Berenberg maintained its buy rating and a 7.80 euro price target on the stock.
Ferrari shares fell 1.1% despite a report that the automaker could be preparing to launch a new model with a manual gearbox. Bernstein analysts wrote that reports suggest a manual version of Ferrari’s 12Cilindri could be shown during a driving rally the company is hosting from June 29 to July 6. The analysts said the move would improve Ferrari’s product mix and help it comfortably exceed its 2026-2030 growth targets. Bernstein noted that the car could be one of the four new vehicles Ferrari has promised to unveil this year. Ferrari has not built a road car with a manual transmission since 2012, but the analysts cited a recent resurgence in demand for manual supercars in the most prestigious segments of the automotive industry.
Renault shares fell 2.6% after UBS analysts pointed to weak new-car registrations in France at the start of the second quarter. UBS analyst David Lesne wrote that data from French auto association PFA showed Renault brand passenger car sales declined 11% on year in April and May combined. UBS estimates the Renault brand lost about 2.3 percentage points of market share, reaching 16.2% in the period. Sales of Dacia brand cars declined nearly 4% in April and May combined. Lesne said France represents Renault’s largest market, accounting for around 25% of its global sales. “Q2 has started on a rather weak note,” Lesne said. “Having said this, June is typically the most important month of the quarter.”
MSI previously reported that Castlelake’s pursuit of a takeover of easyJet faces valuation and ownership hurdles in an article published June 1. easyJet shares rose 0.8% to 441.50 pence on Wednesday as Bernstein analysts said the aviation lessor’s strategy likely involves splitting the budget airline apart rather than keeping it whole. Bernstein analysts Alex Irving and Antoine Madre wrote in a note that easyJet’s individual assets could fetch significantly higher returns independently. They estimated that if the company were completely liquidated and broken up, it could yield a value of 7 to 8 pounds per share, above its current market price. “Castlelake’s experience in aircraft leasing may suggest this could be the plan,” the analysts wrote. easyJet shares are down 14% in the year to date.