1057 GMT - Mercedes-Benz is ahead of peers when it comes to cutting costs, Jefferies analysts write as they upgrade the stock to buy from hold. However, they cut the target price to 52 euros from 60 euros. The German carmaker has achieved 80% of its fixed cost reduction target but is running behind on material costs, the analysts write. It is well on the way to cutting investments toward 11 billion euros by 2027, they add. Overall, Mercedes-Benz leads its German peers on restructuring, product launches and capital allocation, they say. Shares fall 1% to 42.93 euros.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
June 29, 2026 06:57 ET (10:57 GMT)
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