Daimler: Barclays upgrades 'underweight' rating
(CercleFinance.com) - Barclays has upgraded its rating on Daimler from "underweight" to "equal weight" and has raised its target price for the share from 61 euros to 65 euros, saying that "while it may be hard to argue for earnings upgrades for 2019, we believe estimates have likely fallen enough".
"There is little doubt that 2019 is going to be another challenge for the industry as a whole," with limited revenue growth and cost inflation, but the broker believes that "the market is well aware of these dynamics and particularly so in the case of Daimler".
"The lack of further forecasting cuts could be supportive of the stock, given the depressed valuation of the name and the potential for a more encouraging longer-term news feed," Barclays believes.
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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.
"There is little doubt that 2019 is going to be another challenge for the industry as a whole," with limited revenue growth and cost inflation, but the broker believes that "the market is well aware of these dynamics and particularly so in the case of Daimler".
"The lack of further forecasting cuts could be supportive of the stock, given the depressed valuation of the name and the potential for a more encouraging longer-term news feed," Barclays believes.
Copyright (c) 2019 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.