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Daimler: Bernstein maintains 'outperform' rating

(CercleFinance.com) - Sanford C.
Bernstein is sticking to its "outperform" rating on the Daimler stock, with a target price of 85 euros after Geely's founder took a 9.7% stake in the company.

In a report sent to clients, Bernstein said the deal raises many questions, including, "Is the plan to get Mercedes cars and Volvo cars to work together? Does this change Daimler's joint venture plans in China in the medium term?"

"We think investors are going to conclude that the chances of a change in corporate structure (for example a truck business de-merger) just fell," it wrote in the report.

"Geely's intervention - and all the uncertainty it's going to bring - could well delay such moves," the broker added.

However, Bernstein thinks that Daimler's share price still fails to reflect the German premium carmaker's recent transformation.

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