(News Bulletin 247) – Stifel reaffirms its ‘buy’ recommendation on Mercedes-Benz with a price target raised from 84 to 86 euros, believing that the German automotive group’s optimistic vision for 2023 is ‘based on solid foundations’.
‘Electrification allows Mercedes to sell large internal combustion engine cars with rich margins’, estimates the broker, who also points out that ‘shareholders can expect a cash return of around 10% in total ‘.
‘Mercedes is the only European manufacturer without government involvement or long-term family ownership. In theory, Mercedes is therefore the only target for a takeover, which makes it nimble and more determined to create value for shareholders,” adds Stifel.
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