(CercleFinance.com) – Goldman Sachs says markets should support robust earnings development for European automakers in 2022/23.
The analysis office confirms its advice to buy on Daimler with a price target of 102 E.
” Global volumes continue to recover (Production of light vehicles GSe + 12.1% / + 5.4%), prices for new and used cars are close to their highest levels and inventory levels remain at historical levels’ indicates the analysis office.
Goldman Sachs says in a rising production environment, they see the situation, at least in 2022, to be somewhat unique.
‘In the sector, we are highlighting BMW and Daimler (both rated at purchase). Among the suppliers, we recommend Autoliv (noted at purchase) but we note that the company is not immune to difficulties related to raw materials and layoffs’ adds Goldman Sachs.
‘The availability of semiconductors remains low, impacting production and volumes. We believe supply chain constraints will continue to have an impact ‘.
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