Daimler Truck downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs downgraded Daimler Truck to Neutral from Buy with a price target of EUR 39, down from EUR 46. The decelerating pricing and near-peak level nventories of finished trucks in the latest US Class 8 data pose downside risk vs. consensus expectations for the overall US trucks market, where Daimler has the most market share, the analyst tells investors in a research note. Daimler Buses should continue its strong revenue growth and margin expansion, but the firm sees further risks in Mercedes-Benz and Trucks North America as a weak order year in 2024 will be followed by a weak delivery year in 2025, Goldman Sachs added.