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Daimler Truck: Oddo nudges up target price

( - Oddo maintains its Outperform rating on Daimler Truck (DT) shares, adding a euro to its target price, which it has increased from 36 euros to 37 euros, after the company published Q3 results confirming the quality of preliminary results.

In addition to (very strong) EBIT and FCF that were already published, the group reports robust sales, although, above all, very good earnings, which suggests a high dividend for the year (the broker expects E1.4/share, >20% above consensus), the analyst points out.

Regarding its outlook, DT confirms its new guidance, which it raised for the second time on announcing its preliminary results.

Daimler Truck now expects sales of 48 to 50 billion euros (vs. 46-48 billion euros previously, consensus 49.5 billion euros, Oddo BHF 50.6 billion euros) and published EBIT that is up slightly vs. "in line" previously.

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