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Mercedes-Benz Group (ex Daimler): JPMorgan analysis confirms overweight rating
Analysis of the Mercedes-Benz Group (ex Daimler) by JP Morgan Chase & Co. - stock valuation and quarterly figures in focus. Expert opinion and price target for investors.
Mercedes-Benz Group (ex Daimler): JPMorgan analysis confirms overweight rating
The Mercedes-Benz Group (formerly Daimler) stock was recently subjected to an in-depth review by JP Morgan Chase & Co. analyst Jose Asumendi. After a conference call on the quarterly figures, the US bank JPMorgan maintained its rating for Mercedes-Benz and classified it as “Overweight” with a price target of 78 euros. Due to the car company's weaker earnings development, Asumendi reduced its profit forecasts for 2024 and 2025 by 5 percent each.
In trading at 7:05 p.m. in the Frankfurt meeting, the share lost 5.3 percent and was at EUR 71.19. This still leaves 9.57 percent room for improvement compared to the set price target. 45,945 Mercedes-Benz Group (ex Daimler) shares were recently traded in Frankfurt. In 2024, the share value rose by 13.7 percent. On April 30, 2024, investors are expected to be given an insight into the quarterly balance sheet for Q1 2024.
The original study by JP Morgan Chase & Co. was published on April 30, 2024 at 4:29 p.m. The obligation to disclose conflicts of interest within the meaning of Section 85 Para. 1 WpHG, Art. 20 Regulation (EU) 596/2014 for the analyst firm mentioned can be viewed on the website.
Investors may be able to benefit from JP Morgan Chase & Co.'s assessments and forecasts to make informed decisions. The development of the share value and the quarterly figures are closely followed as they represent important indicators for the future performance of the Mercedes-Benz Group (formerly Daimler).