Daimler’s shares have recently come under considerable pressure. Also today, Thursday, the paper loses 0.3 percent to 51.37 euros and is therefore above the low level recently marked for the year of 50.62 euros. Analysts have also lowered their price targets recently, but valuations remain optimistic.
Warburg Research lowered its price target for Mercedes-Benz ahead of the upcoming quarterly figures on July 27 from 99 to 95 euros, but left a “Buy” rating. As analyst Marc-Rene Tonn wrote in a research note available on Thursday, he expects the automaker to have a strong second quarter – despite rising costs and weak sales in China. The target price is slightly lower due to revised assumptions.
American investment bank Goldman Sachs has lowered the price target for Mercedes-Benz from 93 to 88 euros, but left the stock on the “conviction buy list”. In the second quarter, production disruptions and high raw material prices at Mercedes and BMW are likely to have made themselves lower, analyst George Galliers wrote in a research note available Thursday. At Mercedes, his revised projections to 2024 now reflect his latest views. He also justified the reduction of the target and the reduced multiplier.
Investment bank Oddo BHF recently lowered its price target on Mercedes-Benz from 85 to 75 euros, but also left an “Outperform” rating. The upcoming reporting season won’t silence debate about the auto industry’s prospects, analyst Michael Foundoukidis wrote in an outlook available Tuesday. Equity ratings now price in a major downturn in the coming year. Foundoukidis is also cautious and has reduced his estimate to 2023. But he thinks it is the right time to regroup the unfairly punished favourites. Here he mentioned Stellantis, Mercedes, Ferrari, Michelin and CIE Automotive.
DER AKTIONÄR also remains optimistic in the long term, but in the short term the stock is still struggling. First of all, it will be important that no new lows per year are created. A positive sign would be a permanent jump above the EUR 55 area and then above the resistance at EUR 60.
(With material from dpa-AFX)
Notice of conflicts of interest: The CEO and majority owner of the publisher Börsenmedien AG, Mr. Bernd Förtsch, has taken direct and indirect positions on the following financial instruments mentioned in the publication or related items that may benefit from the price promotion resulting from the publication: Mercedes-Benz.