Daimler: Oddo BHF still a buyer, but cuts target
(CercleFinance.com) - Oddo BHF confirms its "buy" rating on the Daimler stock, although has cut its target price from 75 euros to 65 euros, pointing to a fall in the German car maker's results and the valuation of its peers.
The analyst points out that sales have picked up since October, although at a pace that seems insufficient to significantly reduce the rise in inventory that was seen in Q3, which also means that the group is unlikely to reach its 2018 FCF target.
Although it now seems unlikely that the group will maintain its dividend at 3.65 euros, Oddo BHF does however consider that the group is ready to try (three euros?) to win backing from its shareholders on the vote of its Project Future at its AGM in April.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The analyst points out that sales have picked up since October, although at a pace that seems insufficient to significantly reduce the rise in inventory that was seen in Q3, which also means that the group is unlikely to reach its 2018 FCF target.
Although it now seems unlikely that the group will maintain its dividend at 3.65 euros, Oddo BHF does however consider that the group is ready to try (three euros?) to win backing from its shareholders on the vote of its Project Future at its AGM in April.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.