(CercleFinance.com) – UBS reaffirms its ‘buy’ recommendation on Traton, but lowers its target price from 30 to 22 euros, a new target which nevertheless leaves a potential for growth of 61% for the title of the German manufacturer of utility vehicles.
“We believe that Traton’s margin development record is underappreciated by the market and that the latest valuations offer a particularly attractive entry point”, explains the broker, who expects the group “to find its path’.
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