Mercedes-Benz: increased targets snubbed by market

(CercleFinance.com) - Mercedes-Benz Group's shares haven't risen on Wednesday, as the market was not very impressed by the German carmaker's revised targets.


It's the first time in history that a company like Mercedes-Benz has been able to make a profit on its investment in a new vehicle.

This morning Mercedes announced "solid" financial results for Q3, thanks to "robust" demand and strong prices for its cars and vans.

The Stuttgart-based group, which said that it also benefited from cost discipline, posted an 83% increase in EBIT for the quarter, which reached 5.2 billion euros, albeit a notch under the consensus
of 5.3 billion euros.

Meanwhile, revenues rose 19% to 37.7 billion euros, again just under the consensus of 37.8 billion euros.

With analysts having already integrated its improved targets, after at first dipping, the share is now flat in Frankfurt.


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