Mercedes: Stifel reiterates rating ahead of CMD
(CercleFinance.com) - The analyst says that Mercedes' most important CMDs (e.
g. 2011 in Kecskemet, 2013 in Berlin, 2019 in London) had negative impacts on its share price.
Stifel believes that the bar also looks very high for the CMD on 19 and 20 May: the event, called "Economics of Desire", will be held on the French Riviera. Many questions remain unanswered and were referred to the CMD. Overall, analysts are slightly positive about the event.
Stifel therefore confirms its buy rating on the stock with a target price of 99 euros before it.
The EBIT margin was 12.9% in 2021, and improved to 16.4% in Q1 2022. Mercedes is expected to slightly increase these targets, with double-digit EBIT margins, the broker notes.
Mercedes has some 23 billion euros in net cash. Management expects a sustained high level of profitability and lower capital expenditure, analysts add.
The share is down about 0.5% at lunchtime today.
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g. 2011 in Kecskemet, 2013 in Berlin, 2019 in London) had negative impacts on its share price.
Stifel believes that the bar also looks very high for the CMD on 19 and 20 May: the event, called "Economics of Desire", will be held on the French Riviera. Many questions remain unanswered and were referred to the CMD. Overall, analysts are slightly positive about the event.
Stifel therefore confirms its buy rating on the stock with a target price of 99 euros before it.
The EBIT margin was 12.9% in 2021, and improved to 16.4% in Q1 2022. Mercedes is expected to slightly increase these targets, with double-digit EBIT margins, the broker notes.
Mercedes has some 23 billion euros in net cash. Management expects a sustained high level of profitability and lower capital expenditure, analysts add.
The share is down about 0.5% at lunchtime today.
Copyright (c) 2022 CercleFinance.com. All rights reserved.