Connect with us

Hi, what are you looking for?


Mercedes Drives Daimler Stock to 5-Year High

Stock Markets1 hour ago (Apr 16, 2021 07:53AM ET)

(C) Reuters.

By Dhirendra Tripathi – Daimler (OTC:DDAIF) shares rose 2.3% to their highest in over five years after the maker of Mercedes-Benz cars reported a vibrant first quarter thanks largely to the strength of the Chinese market.

The company credited high volume growth, a friendly product mix and right pricing for its performance. China, the German automaker’s biggest market, contributed the most when all regions reported strong growth, indicating robust demand in areas still clawing their way out of the pandemic.

According to preliminary estimates, Daimler Group’s operating profit for January-March came at 5.74 billion euros ($6.8 billion), comfortably above a consensus forecast of 4.96 billion. This was more then nine times the EBIT of 617 million euros recorded in the same quarter a year ago.

“The magnitude of the beat will likely lead to upgrades despite what looks like a challenging production environment for the industry in Q2,” analysts at Jefferies (NYSE:JEF) had said in a research note on Wednesday. The brokerage has a ‘buy’ on the stock with a EUR95 target, a near 22% rise from the stock’s current elevated levels.

The company will publish its full quarterly results on April 23.

There was more good news in store for the European automobile industry. New car registrations rose 63% in March, the European Automobile Manufacturers’ Association ACEA said. The gains erased an early-year decline to leave sales up 0.9% for the first quarter of 2021.

Mercedes Drives Daimler Stock to 5-Year High

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt.


Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione.


Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum.


Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora.

Disclaimer: it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Buzz Clever. All Rights Reserved