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Goldman analyst raises price target for Mercedes-Benz
Goldman Sachs raises price target for Mercedes-Benz and classifies shares as “Buy” - all details on the analysis by analyst George Galliers. Find out more here!
Goldman analyst raises price target for Mercedes-Benz
Goldman Sachs Group Inc. analyst George Galliers recently conducted a comprehensive analysis on Mercedes-Benz Group (ex Daimler) stock. According to Galliers, the US investment bank raised the price target for Mercedes-Benz from 93 to 97 euros before the quarterly figures and left the rating at “Buy”. The forecast is based on the assessment that the carmaker performed solidly despite challenges such as supply chain constraints and model adjustments, particularly the E-Class in China.
At the time of the analysis, the Mercedes-Benz Group (ex Daimler) share was recording losses and was trading in XETRA trading with a decline of 0.3 percent to EUR 75.80. According to the analyst, this leaves potential room for improvement of 27.97 percent, based on the new price target. The trading volume most recently amounted to 785,852 Mercedes-Benz Group (ex Daimler) shares, while the share price has risen by 21.2 percent so far in 2024. The publication of the financial results for the first quarter of 2024 is scheduled for April 30, 2024.
Goldman Sachs Group Inc.'s analysis underlines confidence in the development of Mercedes-Benz Group (ex Daimler) shares and signals optimistic expectations regarding the carmaker's future growth. Investors are keenly following the company's performance and will await the quarterly results with interest.
It should be noted that the information comes from the original study by Goldman Sachs Group Inc. and the analysis was published on 04/11/2024. The investment bank's updated assessment reflects current market conditions and forecasts for Mercedes-Benz Group (ex Daimler).
The activities of financial institutions such as Goldman Sachs Group Inc. have a significant impact on the market valuation of companies such as Mercedes-Benz Group (ex Daimler). Investors and industry experts therefore closely follow the analyzes and recommendations of such institutions in order to make informed investment decisions and understand market activity.