(CercleFinance.com) – Daimler Truck gained nearly 2% in Frankfurt, driven by an analysis by Oddo BHF which maintained its ‘outperformance’ rating on the stock, with a price target raised from 30 to 35 euros.
The analysis office relies in particular on the results of the 1st quarter, deemed ‘solid and above expectations’, with sales of 10.6 billion euros, up 13% like for like, when Oddo was counting on 10.1 billion euros. .
‘The group continues to benefit from high demand with an increase in volumes and prices’, notes the analyst.
In this context, the group is raising its annual guidance and is now counting on a turnover of 48-50 MdE (vs css ODDO BHF of 46 MdE) and an adjusted EBIT expected to rise ‘significantly’ and EBIT in line (vs. slight decrease) .
Consequently, Oddo is raising its 2022 EBIT estimate by 13%, placing itself 15% above the consensus.
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