Daimler (DDAIF) Receives a Buy from J.P. Morgan

In a report released yesterday, Jose Asumendi from J.P. Morgan maintained a Buy rating on Daimler (DDAIFResearch Report), with a price target of EUR29.00. The company’s shares closed last Wednesday at $30.76.

Asumendi observed:

“NEW YORK (dpa-AFX Analyser) – Die US-Bank JPMorgan hat die Einstufung fur Daimler nach einer Telefonkonferenz mit Finanzvorstand Harald Wilhelm auf “Overweight” mit einem Kursziel von 29 Euro belassen. Die Pkw-Tochter Mercedes-Benz habe es wohl geschafft, im ersten Quartal trotz des Absatzruckgangs Geld zu verdienen, schrieb Analyst Jose Asumendi in einer am Donnerstag vorliegenden Studie. Auch mit der aktuellen Liquiditatslage in der Corona-Krise habe sich Wilhelm zufrieden gezeigt./edh/nas

Veroffentlichung der Original-Studie: 08.04.2020 / 19:47 / BST
Erstmalige Weitergabe der Original-Studie: 09.04.2020 / 00:15 / BST

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According to TipRanks.com, Asumendi is a 2-star analyst with an average return of -2.9% and a 43.5% success rate. Asumendi covers the Consumer Goods sector, focusing on stocks such as Compagnie Générale des Établissements Michelin, Bayerische Motoren Werke Aktiengesellschaft, and Continental Aktiengesellschaft.

Currently, the analyst consensus on Daimler is a Hold with an average price target of $36.52, a 17.8% upside from current levels. In a report issued on March 25, Jefferies also upgraded the stock to Buy with a EUR40.00 price target.

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Based on Daimler’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $47.13 billion and GAAP net loss of $109 million. In comparison, last year the company earned revenue of $46.61 billion and had a net profit of $1.56 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.