Mercedes-Benz Group: AlphaValue upgrades stock
(CercleFinance.com) - On Wednesday AlphaValue upgraded its rating on Mercedes-Benz Group shares to "buy" (from "hold"), saying that the luxury-oriented strategy adopted by the company was beginning to bear fruit.
In a report, the independent broker noted that the German group's Q1 results were driven by its premium vehicles, which now account for 16% of sales volumes, with some models unavailable until the end of the year.
Analysts say that this positive momentum will support growth in revenues and operating profit, despite the problems posed by the shortage of semi-conductors and the increase in raw material prices.
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