Stellantis shares fell after Berenberg downgraded the automaker to Hold from Buy and cut its price target nearly 35% to €5.10 from €7.80. The bank said profitability has not recovered in line with vehicle shipments, with North America showing particularly weak margin improvement, while dealers reducing excess inventory could pressure sales through the second half of the year. Berenberg had previously reduced its 2026-2028 operating-income forecasts for Stellantis by about 15% and warned that inventories were approaching 100 days of supply. Shares were down 2.35% at $4.98 on Wednesday and were trading at a new 52-week low, according to Benzinga Pro. Separately, Stellantis plans to present nine concept cars and more than 60 vehicles from eight brands at the Paris Motor Show from October 12 to 18. The automaker will occupy more than 5,300 square meters in Hall 4 of the Porte de Versailles Exhibition Centre, showcasing vehicles from urban micromobility through long-distance travel as part of its FaSTLAne 2030 growth strategy. Premieres will include the DS N°7, Fiat Grizzly, Lancia Gamma, Leapmotor B03 and D19, and Opel Corsa GSE. CEO Antonio Filosa, Enlarged Europe COO Emanuele Cappellano, design chiefs Ralph Gilles and Gilles Vidal, and Chief Engineering and Technology Officer Ned Curic are scheduled to participate in the event.