(CercleFinance.com) – HSBC maintained its purchase recommendation on Mercedes-Benz on Monday, accompanied by a price target revised upwards from 82 to 85 euros, considering that the group’s latest publication had provided it with the clarifications that he wished.
The broker recalls that the car manufacturer has admitted to expecting a ‘difficult’ 2024 financial year, but believes that the launch of an attractive share buyback program reflects its confidence in a long-term perspective.
The broker adds that the presentation of ‘more realistic’ objectives in terms of electrification, due to the slowdown in demand, also bodes well for the company’s future profit margins.
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