(Adds share price, background on financial estimates)
By Bernie Woodall
DETROIT Jan 11 Fiat Chrysler Automobiles
Chief Executive Sergio Marchionne told Wall
Street analysts on Wednesday that the company's chances of
hitting 2018 financial targets are "significantly greater than
50 percent," according to a person present at the meeting.
The targets from Fiat Chrysler's five-year plan ending in
2018 were initially set in 2014 and updated in January 2016.
They include 136 billion euros ($144 billion) of revenue and
adjusted net profit of between 4.7 billion euros and 5.5 billion
Fiat Chrysler had no comment on the remarks made by
Marchionne at the analyst meeting.
Last January, the company raised it targets for 2018, and
also forecast adjusted operating profit of 8.7 billion to 9.8
billion euros, and adjusted operating margins of 6.4 percent to
Many analysts expressed doubts about the company achieving
the targets when they were set and then upgraded.
In Milan, the company's shares closed Wednesday at 10.47
euros, up 21 percent since the end of December, and in New York,
shares closed at $11.09, up 21.6 percent this year.
Marchionne confirmed on Monday at the North American
International Auto Show in Detroit that he will retire at the
end of 2018.
($1 = 0.9448 euros)
(Reporting by Bernie Woodall; Editing by Diane Craft and Bill