Daimler: stock up, as UBS upgrades to buy
(CercleFinance.com) - The Daimler stock is up on Friday after UBS upgraded its rating on the German auto giant from "neutral" to "buy".
The owner of the Mercedes-Benz brand is currently up 2.5%, making it the second biggest riser on a limp DAX, which is down 0.2% at the same time.
The broker, which has increased its target price for the share from 79 euros to 100 euros, says that its optimism is based on the expectation that the group's plans to build a "luxury" offering in the electric vehicle market will be successful.
The broker also believes that the manufacturer's earnings trajectory for 2022 is underestimated by the market and also highlights the prospect of a revaluation of the share after the forthcoming split of the heavy goods vehicle business.
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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.
The owner of the Mercedes-Benz brand is currently up 2.5%, making it the second biggest riser on a limp DAX, which is down 0.2% at the same time.
The broker, which has increased its target price for the share from 79 euros to 100 euros, says that its optimism is based on the expectation that the group's plans to build a "luxury" offering in the electric vehicle market will be successful.
The broker also believes that the manufacturer's earnings trajectory for 2022 is underestimated by the market and also highlights the prospect of a revaluation of the share after the forthcoming split of the heavy goods vehicle business.
Copyright (c) 2021 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.