J.P. Morgan Believes Daimler (DDAIF) Still Has Room to Grow

J.P. Morgan analyst Jose Asumendi maintained a Buy rating on Daimler (DDAIF) on April 30 and set a price target of EUR100.00. The company’s shares closed last Monday at $89.63, close to its 52-week high of $93.42.

According to TipRanks.com, Asumendi is a 4-star analyst with an average return of 11.7% and a 56.7% success rate. Asumendi covers the Consumer Goods sector, focusing on stocks such as Compagnie Générale des Établissements Michelin, Bayerische Motoren Werke Aktiengesellschaft, and Stellantis.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Daimler with a $109.04 average price target, which is a 20.8% upside from current levels. In a report issued on April 15, HSBC also maintained a Buy rating on the stock with a EUR90.00 price target.

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The company has a one-year high of $93.42 and a one-year low of $28.42. Currently, Daimler has an average volume of 27.39K.

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Daimler AG engages in the production and distribution of cars, trucks, and vans. It operates through the following segments: Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses, and Daimler Financial Services. The Mercedes-Benz Cars segment sells passenger cars and off-road vehicles under the Mercedes-Benz brand and small cars under the smart brand. The Daimler Trucks distributes its trucks under the brand names Mercedes-Benz, Freightliner, FUSO, Western Star, and BharatBenz. The Mercedes-Benz Vans segment manufactures commercial vans such as Sprinter large van, the Vito mid-size van, and the Mecedez-Benz Citan urban delivery van. The Daimler Buses segment trades city and intercity buses, coaches, and bus chassis under the Mercedes-Benz and Setra brands. The Daimler Financial Services segment consists of tailored financing and leasing packages for customers and dealers. It also provides services such as insurance, fleet management, investment products, and credit cards. The company was founded by Gottlieb Daimler and Carl Benz in 1926 and is headquartered in Stuttgart, Germany.

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