(News Bulletin 247) – Stifel maintains its buy rating on the Mercedes-Benz share with an unchanged price target of 86 euros.
While the manufacturer will publish its second quarter results on July 27, the analyst anticipates ‘neutral to slightly negative’ results.
Stifel is thus counting on a decline in the adjusted margin from 14.8 to 13.2% at Mercedes Cars, pointing in particular to higher launch costs as well as lower prices in second-hand and at Chinese dealerships. Also for Mercedes Cars, Stifel anticipates a solid FCF of 2.9 billion euros and an adjusted EBIT of 3.7 billion euros.
For the Vans segments, Stifel expects an increase in unit sales compared to the 1st quarter. The EBIT margin should come out at 15.4%, close to its record level of 15.6% in the 1st quarter, says the broker.
“At the group level, our EBIT forecast is around 8% lower than the consensus, while our FCF forecast is 26% higher than the consensus”, underlines the analysis office.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
