Daimler: Bank of America confirms its recommendation
(CercleFinance.com) - Bank of America confirms its 'buy' recommendation on the automaker's share, upgrading its price target from 50 to 55 euros.
In the run-up to the third-quarter results, expected on 23 October, the broker confirms that it anticipates the group's adjusted operating profit at 2.6 billion euros, an estimate approximately 60% ahead of consensus.
As regards the Mercedes-Benz Cars strategy update of 6 October, Bank of America expects “Mercedes to explain how it can compensate lower revenue growth with higher cost savings”.
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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.
In the run-up to the third-quarter results, expected on 23 October, the broker confirms that it anticipates the group's adjusted operating profit at 2.6 billion euros, an estimate approximately 60% ahead of consensus.
As regards the Mercedes-Benz Cars strategy update of 6 October, Bank of America expects “Mercedes to explain how it can compensate lower revenue growth with higher cost savings”.
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.