Daimler: Oddo still a seller, but raises target price
(CercleFinance.com) - Oddo BHF maintains its "reduce" rating on the Daimler share, although has raised its corresponding target price from 30 euros to 35 euros (vs.
current price: 39 euros, +3.5%), the day after the car maker presented its preliminary figures for the second quarter.
The group estimates EBIT over the period at -1.7 billion euros, below the consensus of -2.1 billion euros. These results are undeniably encouraging and demonstrate greater resilience than both Oddo and the consensus had been expecting, the analyst says.
More generally, they confirm that the second quarter was not as bad as expected for car makers - especially German manufacturers - as it said at Volkswagen a few days ago, Oddo adds.
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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.
current price: 39 euros, +3.5%), the day after the car maker presented its preliminary figures for the second quarter.
The group estimates EBIT over the period at -1.7 billion euros, below the consensus of -2.1 billion euros. These results are undeniably encouraging and demonstrate greater resilience than both Oddo and the consensus had been expecting, the analyst says.
More generally, they confirm that the second quarter was not as bad as expected for car makers - especially German manufacturers - as it said at Volkswagen a few days ago, Oddo adds.
Copyright (c) 2020 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.