Daimler: Morgan Stanley still sees over 30% upside
(CercleFinance.com) - Morgan Stanley is maintaining its "overweight" call on Daimler, with a target price of 62 euros, implying upside potential of over 30%.
"Post a challenging May, autos have stabilised in June," the broker writes in a note. "We think sentiment remains at extreme lows, with second-quarter guidance cuts widely expected," it adds.
However, Morgan Stanley says it continues to see "tactical upside" for the second part of 2019, pointing out "another chance" for investors to buy the Daimler stock below the 50 euro mark.
The Daimler share is currently up 0.3% at 48.3 euros in Frankfurt.
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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.
"Post a challenging May, autos have stabilised in June," the broker writes in a note. "We think sentiment remains at extreme lows, with second-quarter guidance cuts widely expected," it adds.
However, Morgan Stanley says it continues to see "tactical upside" for the second part of 2019, pointing out "another chance" for investors to buy the Daimler stock below the 50 euro mark.
The Daimler share is currently up 0.3% at 48.3 euros in Frankfurt.
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.