Daimler Truck: Oddo raises target price

(CercleFinance.com) - Oddo maintains its outperform rating on Daimler Truck shares, increasing its target price for them from 37 euros to 39 euros.


The broker considers that the stock is still attractive, despite a disappointing Q4, with EBIT coming in 10% below consensus.

Nevertheless, the group remains confident in its 2023 guidance, implying a further increase in margin in 2023: 7.5% to 9% on the Industrial business and almost 10% upside vs. the middle of the 2023 EBIT consensus.

The outlook is based on resilient demand, margin that is supported by price effects and cost-cutting measures, and FCF that is expected to grow strongly (+25% approx.) opening the door to a more generous return to shareholder policy, Oddo says.


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