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Daimler Has 20% Upside, Initiated Buy, Berenberg Says 2014-03-11 08:00:22.951 GMT
By Brian Lysaght March 11 (Bloomberg) -- Daimler current valuation, including 2015 est. P/E of 10.1x, undervalues margin potential of Mercedes cars and truck unit’s future Ebit growth, Berenberg says. Initiated buy, PT EU80 * Mercedes cars Ebit margin may reach 9% in 2016, truck margin 8% in 2016: Berenberg * NOTE: Mercedes 2013 ongoing Ebit margin 6.5%; trucks 5.6% * Daimler has 27 buys, 10 holds, 4 sells; avg PT EU72, implies 8% upside * Shares up 5.8% ytd vs SXAP index up 3.8%: Bloomberg data
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To contact the editor responsible for this story: Brian Lysaght at +44-20-7330-7908 or blysaght@bloomberg.net