Daimler: Oddo dismisses worst-case scenario, upgrades stock

(CercleFinance.com) - On Friday morning an Oddo BHF analyst announced that he is upgrading his rating on the Daimler group share, zhile raising his corresponding target price, believing that the group's latest publication and guidance enable the worst-case scenario to be ruled out.


A few days after solid and better-than-expected Q2 20 preliminary results, the final publication has confirmed the sound initial impression on both earnings (mix, China in particular) and FCF (however largely boosted by WCR as we thought). Above all, the FY guidance provided by management came as a pleasant surprise and should lead to further upgrades, therefore confirming both stronger resilience and a better-than-expected momentum, the broker says.

Oddo BHF has therefore adopted a "Neutral" rating on the (vs. "Reduce") and has raised its corresponding target price to 40 euros (vs. 35 euros).



Copyright (c) 2020 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.