Barclays analyst Henning Cosman upgraded Mercedes-Benz (MBGYY) to Equal Weight from Underweight with a price target of EUR 57.50, up from EUR 50. A better-than-expected Q4 and second half top-end-vehicle mix is materializing in better-than-expected Q4 profitability, notes the analyst, who also acknowledges that Mercedes-Benz executed well on its capital markets day. The “constructive CMD with credible cost cutting guidance” showed mid-term product momentum that was better than expected, the analyst tells investors.
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