In a report released yesterday, Michael Raab from Kepler Capital upgraded Daimler (DDAIF – Research Report) to Buy, with a price target of EUR85.00. The company’s shares closed last Monday at $95.74, close to its 52-week high of $98.00.
According to TipRanks.com, Raab is a 1-star analyst with an average return of -1.6% and a 53.3% success rate. Raab covers the Consumer Goods sector, focusing on stocks such as Compagnie Générale des Établissements Michelin, Bayerische Motoren Werke Aktiengesellschaft, and Stellantis.
Daimler has an analyst consensus of Strong Buy, with a price target consensus of $112.77, which is a 18.8% upside from current levels. In a report issued on October 8, UBS also upgraded the stock to Buy.
Based on Daimler’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $43.48 billion and net profit of $3.6 billion. In comparison, last year the company earned revenue of $30.18 billion and had a GAAP net loss of $2 billion.
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Daimler AG engages in the production and distribution of cars, trucks, and vans. It operates through the following segments: Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses, and Daimler Financial Services. The Mercedes-Benz Cars segment sells passenger cars and off-road vehicles under the Mercedes-Benz brand and small cars under the smart brand. The Daimler Trucks distributes its trucks under the brand names Mercedes-Benz, Freightliner, FUSO, Western Star, and BharatBenz. The Mercedes-Benz Vans segment manufactures commercial vans such as Sprinter large van, the Vito mid-size van, and the Mecedez-Benz Citan urban delivery van. The Daimler Buses segment trades city and intercity buses, coaches, and bus chassis under the Mercedes-Benz and Setra brands. The Daimler Financial Services segment consists of tailored financing and leasing packages for customers and dealers. It also provides services such as insurance, fleet management, investment products, and credit cards. The company was founded by Gottlieb Daimler and Carl Benz in 1926 and is headquartered in Stuttgart, Germany.