Daimler: truck business to be listed? Stifel on 'buy'
(CercleFinance.com) - Based on an article published yesterday in Handelsblatt, Stifel is pondering the possibility of an IPO of Daimler's Trucks & Buses division by the end of 2021 or 2022.
“We believe the market would favour such a move”, said Stifel, which values Daimler Trucks at 20 billion euros.
“We believe an IPO would demonstrate that the new management team has shareholder value creation in focus - even if it means Daimler becomes a much smaller company” continued the analyst.
Although Traton's listing did not trigger a revaluation of Volkswagen, Stifel recalls that Daimler Truck & Bus represents a much larger share of overall business, i.e. 26% of Daimler's revenue.
Stifel therefore maintains its 'buy' recommendation on the share, with a price target of 63 euros.
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