According to a report published by Reuters, sales of Daimler AG’s (DDAIF) commercial vehicle subsidiary Daimler Truck Holding AG (DTG) increased 20% year-over-year to 455,000 units last year.
During the second half of 2021, supply chain issues slowed production in Europe and the U.S., the company said.
Sales of the Buses segment remained flat at 19,000, while the Trucks Asia segment reported the highest growth at 30%.
Daimler spun-off Daimler Truck in December 2020.
Headquartered in Germany, Daimler manufactures and sells cars, trucks, and vans. Apart from Daimler Truck, the company’s other subsidiaries include Mercedes-Benz, Denza, Master Motors and Automotive Fuel Cell Cooperation.
Wall Street’s Take
Last week, Deutsche Bank (DBK) analyst Tim Rokossa assigned a Buy rating to the stock with a price target of $114.18 (33.7% upside potential).
Additionally, Michael Raab, an analyst with Kepler Capital, upgraded the rating on Daimler to Buy from Hold with a $102.76 price target (20.3% upside potential).
Overall, the stock has a Strong Buy consensus rating based on 14 Buys and 3 Holds. The average DDAIF stock forecast of $105.73 implies 23.8% upside potential. Shares have gained 51.4% over the past year.
TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on Daimler, as 12.5% of investors on TipRanks increased their exposure to the stock over the past 30 days.
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