(ADPnews) - Sep 22, 2010 - Kepler Equities affirmed today the "reduce" recommendation with a EUR 38 share price target on German carmaker Daimler AG (ETR:DAI).
Analyst Michael Raab pointed out that Daimler's management confirmed the recovery in order intake in the company's commercial vehicle unit. According to the analyst, the recovery in order intake has been expected for a long time.
According to Kepler's "reduce" rating, there is a definitive risk of a downward movement in the stock price in the next twelve months.
Daimler's shares closed 1.72% down to EUR 44.85 on the Xetra platform on Wednesday.
(EUR 1.0 = USD 1.342)
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