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The analysis house Jefferies has turned its vote for Daimler from “Underperform” to “Buy”, even if the target price was left at 40 euros. In the worsening crisis, liquidity risks cannot be dismissed from car manufacturers, analyst Philippe Houchois wrote in a study available on Wednesday. The indebtedness of some groups could drive the overdue consolidation. He justified the sudden buy recommendation for Daimler with a mix of favorable valuation, ongoing restructuring, good market positions and the intentions of Chinese shareholders.
The Daimler share in XETRA trading increased by 8.95 percent to EUR 31.90. In the course of time, she temporarily gave up her profits. At the end of trading, however, there was an increase of 1.66 percent to EUR 29.77 on the board.
/ tih / bek
Publication of the original study: 24.03.2020 / 18:42 / ET
First transmission of the original study: 24.03.2020 / 20:00 / ET
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