In a report released today, Jose Asumendi from J.P. Morgan maintained a Buy rating on Mercedes-Benz Group (MBGAF – Research Report), with a price target of EUR90.00. The company’s shares closed yesterday at $74.15.
Asumendi covers the Consumer Goods sector, focusing on stocks such as Stellantis, Bayerische Motoren Werke Aktiengesellschaft, and Continental Aktiengesellschaft. According to TipRanks, Asumendi has an average return of 5.3% and a 52.42% success rate on recommended stocks.
Mercedes-Benz Group has an analyst consensus of Strong Buy, with a price target consensus of $91.66, representing a 23.61% upside. In a report released on January 23, UBS also maintained a Buy rating on the stock with a EUR79.00 price target.
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Based on Mercedes-Benz Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $37.72 billion and a net profit of $3.92 billion. In comparison, last year the company earned a revenue of $31.65 billion and had a net profit of $2.47 billion
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Daimler AG engages in the production and distribution of cars, trucks, and vans. It operates through the following segments: Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses, and Daimler Financial Services. The Mercedes-Benz Cars segment sells passenger cars and off-road vehicles under the Mercedes-Benz brand and small cars under the smart brand. The Daimler Trucks distributes its trucks under the brand names Mercedes-Benz, Freightliner, FUSO, Western Star, and BharatBenz. The Mercedes-Benz Vans segment manufactures commercial vans such as Sprinter large van, the Vito mid-size van, and the Mecedez-Benz Citan urban delivery van. The Daimler Buses segment trades city and intercity buses, coaches, and bus chassis under the Mercedes-Benz and Setra brands. The Daimler Financial Services segment consists of tailored financing and leasing packages for customers and dealers. It also provides services such as insurance, fleet management, investment products, and credit cards. The company was founded by Gottlieb Daimler and Carl Benz in 1926 and is headquartered in Stuttgart, Germany.
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