Fiat Chrysler CEO says good chance hitting 2018 targets: source | Reuters

By Bernie Woodall

DETROIT Fiat Chrysler Cars (FCHA.MI) (FCAU.N) Chief Govt Sergio Marchionne advised Wall Avenue analysts on Wednesday that the corporate’s probabilities of hitting 2018 monetary targets are “considerably larger than 50 %,” in line with an individual current on the assembly.

The targets from Fiat Chrysler’s five-year plan ending in 2018 have been initially set in 2014 and up to date in January 2016. They embody 136 billion euros ($144 billion) of income and adjusted internet revenue of between four.7 billion euros and 5.5 billion euros.

Fiat Chrysler had no touch upon the remarks made by Marchionne on the analyst assembly.

Final January, the corporate raised it targets for 2018, and in addition forecast adjusted working revenue of eight.7 billion to 9.eight billion euros, and adjusted working margins of 6.four % to 7.2 %.

Many analysts expressed doubts concerning the firm reaching the targets after they have been set after which upgraded.

In Milan, the corporate’s shares closed Wednesday at 10.47 euros, up 21 % for the reason that finish of December, and in New York, shares closed at $11.09, up 21.6 % this yr.

Marchionne confirmed on Monday on the North American Worldwide Auto Present in Detroit that he’ll retire on the finish of 2018.

(Reporting by Bernie Woodall; Modifying by Diane Craft and Invoice Rigby)

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