| 2019-07-15 20:53:57|
DDAIF 20:53 07/15 07/15/19
Daimler AG initiated with a Sell at Goldman Sachs
Goldman Sachs analyst George Galliers initiated Daimler AG with a Sell rating and a price target of EUR 42, saying that after a 4.7% decline in its first-half retail sales, the company's top-line is "clearly behind target". The analyst adds that the company has much work to do in order to resolve the launch issues on the new GLE SUV model as well as in addressing its production issues in Mexico. Galliers further cites the company's trucking exposure given his expected "peak truck volumes" in North America this year, where the company is a market leader with 39% share.