(News Bulletin 247) – The analyst estimates that the turnover for the first quarter is 13% higher than what had been announced.
The group also announced an operating profit up to 5.5 billion euros in the first three months of the year thanks to good performance in its light utility division. The publication pleasantly surprised analysts, who were expecting a result of around 4.8 billion.
Following this announcement, UBS confirms its advice to buy with a target of 85 E.
‘The adjusted EBIT is EUR 5.5 billion and the EBIT margin is 14.8% for Cars thanks to a good price/product mix ratio’ indicates the analysis office.
UBS stresses that there is no forecast update at this time, but the upper end of the target range seems more likely.
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