DDAIF - Daimler falls after Morgan Stanley backs out of bull rating

Morgan Stanley lowers its rating on Daimler (OTCPK:DDAIF) to Equal-weight after being in the bull camp with an Overweight stance. The firm warns that the exceptional 2021 earnings will be hard to match. Analyst Harald Hendrikse: "Mercedes management remains best in class. However, high base earnings comps, extrapolated very high consensus earnings forecasts, rising rates, and likely price-mix reversal suggest the risk-reward is mixed. Cash return remains the best bull case." The firm assigns a price target of €70 to Daimler (OTCPK:DDAIF). Shares of Daimler (OTCPK:DDAIF) are down 2.05% in Frankfurt trading. See the valuation marks on Daimler vs. auto peers.

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Daimler falls after Morgan Stanley backs out of bull rating