Mercedes-Benz: HSBC raises TP

(CercleFinance.com) - HSBC maintains its 'buy' rating on Mercedes-Benz shares, with a target price raised from E75 to E80, reflecting 'a significantly improved net industrial liquidity position at end-2024 for the German automaker.


According to HSBC, MBG has not yet received full credit for its capital allocation strategy, according to which it will use all future surplus industrial FCF for share buybacks (after small acquisitions and a dividend payout of around 40%).

In an uncertain market, MBG's relatively resilient pricing, strong cash generation and focus on shareholder returns still make it an attractive investment, the broker says.


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