Daimler (DDAIF) Gets a Buy Rating from J.P. Morgan

By Ryan Adsit

J.P. Morgan analyst Jose Asumendi maintained a Buy rating on Daimler (DDAIFResearch Report) today and set a price target of $69. The company’s shares opened today at $52.11, close to its 52-week low of $50.64.

According to TipRanks.com, Asumendi is a 1-star analyst with an average return of -1.8% and a 66.7% success rate. Asumendi covers the Consumer Goods sector, focusing on stocks such as Compagnie Générale des Établissements Michelin, Bayerische Motoren Werke Aktiengesellschaft, and Continental Aktiengesellschaft.

The word on The Street in general, suggests a Hold analyst consensus rating for Daimler with a $63.74 average price target, implying a 22.3% upside from current levels. In a report issued on July 8, Deutsche Bank also maintained a Buy rating on the stock with a $60 price target.

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Based on Daimler’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $2.38 billion. In comparison, last year the company had a net profit of $2.06 billion.

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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.