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Daimler: UBS still a buyer

(CercleFinance.com) - UBS confirms its buy rating, adopted last week, on the share of German carmaker Daimler, even though this rating was greeted with skepticism amongst many investors.

The broker its also maintaining its 12-month target price of 54 euros.

"Daimler is consensually seen as a stock to avoid, which creates an opportunity," the broker says in a report, which also confirms its expectations of restructuring and cash generation.

While sentiment about Daimler is lacklustre, UBS believes it could turn around quickly, citing in particular the upbeat unit sales in August and an early settlement of the initial difficulties in launching the GLE/GLS series. Also UBS does not rule out Daimler's management from delivering a "reassuring" speech at the Frankfurt Motor Show, which starts this week.

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