Stellantis falls after Piper Sandler downgrades to 'neutral' and cuts PT

U.S. listed Shares of auto-maker Stellantis NV STLAM.MI, STLA.N fall 3.8% to $12.19 premarket

Brokerage Piper Sandler downgrades STLA to "neutral" from "overweight"; cuts PT to $13 from $23

Brokerage says STLA has "too many headwinds" that includes fluctuating foreign exchange rates, labor disputes, soft EV demand due to pricing and strikes

Views the global tariff impact as risk, suggesting it could affect the company more severely than General Motors GM.N and Ford F.N

"It will probably take years to address the problems with this sprawling global automaker"- Piper Sandler

Up to last close, STLA stock down 56% in the past 12 months