Mercedes-Benz: Jefferies downgrades stock
(CercleFinance.com) - Jefferies downgrades its recommendation on Mercedes-Benz Group from 'buy' to 'hold', with a target price reduced by 18% to E60, in a sector note in which it upgrades its peer BMW Group.
The broker thus switches preference amongst premium carmakers, based on an assessment of BMW's lower risk profile, from growth to customs duties, CO2 compliance and strategic stability.
BMW's peak in capital expenditure this year could justify a premium over a Mercedes-Benz facing repositioning and reinvestment, Jefferies adds.
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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 broker thus switches preference amongst premium carmakers, based on an assessment of BMW's lower risk profile, from growth to customs duties, CO2 compliance and strategic stability.
BMW's peak in capital expenditure this year could justify a premium over a Mercedes-Benz facing repositioning and reinvestment, Jefferies adds.
Copyright (c) 2024 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.