Daimler Truck: Oddo raises target price
(CercleFinance.com) - Oddo maintains its "outperform" rating on Daimler Truck shares, having increased its target price for them from 30 euros to 35 euros.
The broker has based its rating on the group's Q1 results, which are considered solid and above expectations, with sales of 10.6 billion euros, up 13% as reported, above Oddo's forecast of 10.1 billion euros.
The group continues to benefit from high demand with an increase in volumes and prices, the analyst notes.
As such, the group is raising its FY guidance, now expecting sales of 48-50 billion euros (vs. Oddo BHF's guidance of 46 billion euros), with adjusted EBIT that is expected to rise significantly, with EBIT in line (vs. a slight decline).
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