Daimler: Oddo raises target price
(CercleFinance.com) - Oddo has updated its estimates for car makers ahead of their quarterly results, mainly to take into account a lower than expected level of business, given the semiconductor shortage.
Oddo believes that all companies should be able to confirm their annual targets despite a more difficult than expected Q3 and the material/logistics cost inflation recorded in H2 (in line).
As the earnings season approaches, Oddo still prefers Stellantis (Outperform) among carmakers, ahead of Daimler (Outperform, target price raised from 90 euros to 95 euros).
However, the analyst remains cautious on Renault (Neutral) and believes that this publication will not bring any major new light.
Amongst luxury car makers, Oddo confirms its preference for Ferrari (Outperform) over AML (Neutral).
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