Mercedes-Benz Should See Momentum Build Through The Year -- Market Talk

Dow Jones04-05

0806 GMT - Mercedes-Benz is likely to see lower unit sales in 1Q, but full-year guidance should remain unchanged as momentum is expected to build through the year, Deutsche Bank analyst Tim Rokossa writes. He says the unit sales decline, especially in the core segment, will be driven by the ongoing shortage of 48V batteries and will likely lead to worse fixed-cost absorption. Combined with fairly stable pricing, the adjusted cars EBIT margin is expected at the lower end of the company's full-year guidance. However, vans sales should stay at a record-high level in 1Q and the bank expects to see decent cash generation of close to EUR2 billion. Deutsche Bank rates Mercedes at buy with a EUR125 target price. Shares trade 1.3% lower at EUR74.30. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

April 05, 2024 04:06 ET (08:06 GMT)

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Combined with fairly stable pricing, the adjusted cars EBIT margin is expected at the lower end of the company's full-year guidance. However, vans sales should stay at a record-high level in 1Q and the bank expects to see decent cash generation of close to EUR2 billion. Deutsche Bank rates Mercedes at buy with a EUR125 target price. Shares trade 1.3% lower at EUR74.30. 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