Exane BNP Paribas analyst Dorothee Cresswell downgraded Mercedes-Benz to Underperform from Neutral with a EUR 62 price target. Today’s battery electric vehicle weakness “is merely the tip of a melting iceberg as affordability constraints bite,” the analyst tells investors in a research note. The firm says other rich segments “will add to the meltwater” in 2024. Exane supports more cyclical mass global auto names in 2024.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MBGYY: