Daimler: Barclays raises TP - Plenty of catalysts ahead
(CercleFinance.com) - Barclays has reiterated its "overweight" rating on Daimler shares, having increased its corresponding target price to 100 euros (from 96 euros), saying it expects several important catalysts in the second quarter for the German carmaker, in particular citing the launch of EQS.
The broker is raising its estimates by around 4% for 2021-2023, following the announce of strong Q1 deliveries (+21.8%) and wholesale (+14.7%) figures earlier this week.
"While the chip shortage remains a risk, we think a very strong Q1 will position Daimler to offset any challenges," the analyst adds, now forecasting a group adjusted EBIT margin of 9.6% for the first three months of the year.
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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 is raising its estimates by around 4% for 2021-2023, following the announce of strong Q1 deliveries (+21.8%) and wholesale (+14.7%) figures earlier this week.
"While the chip shortage remains a risk, we think a very strong Q1 will position Daimler to offset any challenges," the analyst adds, now forecasting a group adjusted EBIT margin of 9.6% for the first three months of the year.
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.