Traton: Stifel upgrades stock
(CercleFinance.com) - Stifel has upgraded its rating on Traton (subsidiary of VW Group) from "hold" to "buy" and having increased its corresponding target price from 21 euros to 29 euros (current price: 23.
3 euros, +1.8%), based on higher estimates for the German commercial vehicle manufacturer.
"With improving visibility on the volume recovery, Traton offers a compelling combination of a highly volume-dependent asset (MAN) coupled with a free-option on a successful turnaround of the MAN brand," the broker says.
Stifel expects Traton to perform strongly in the first quarter of 2021 and has become more constructive on the FY 2021 performance of MAN and Scania, leading it to expect above-consensus adjusted operating profit.
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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.
3 euros, +1.8%), based on higher estimates for the German commercial vehicle manufacturer.
"With improving visibility on the volume recovery, Traton offers a compelling combination of a highly volume-dependent asset (MAN) coupled with a free-option on a successful turnaround of the MAN brand," the broker says.
Stifel expects Traton to perform strongly in the first quarter of 2021 and has become more constructive on the FY 2021 performance of MAN and Scania, leading it to expect above-consensus adjusted operating profit.
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.