Stellantis suffered the biggest drop in the CAC 40 index on Tuesday morning on the Paris Bourse, as the automotive group's share price was penalized by a note from RBC, which lowered its target price on the stock.

The Canadian broker, which maintains its 'outperform' opinion on the stock, reduced its target price from 24 to 18 euros.

In a note, the broker points out that the recent announcement of longer inventory lead times at the automaker's US dealerships has come as a "nasty surprise" to investors.

RBC fears that this phenomenon will lead to a deterioration in the average selling price of its vehicles, not only in the second half of 2024, but also in 2025.

Following these comments, the share price fell by almost 2% in early trading on Tuesday, bringing its fall since the start of the year to over 35%.

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