FRANKFURT (dpa-AFX Broker) – According to dealers, a strong third quarter brought Daimler shares back up on Friday. On the Tradegate trading platform, they gained 2.7 percent at the Xetra close to EUR 48.12.
The papers had done very well in the past few months and at times moved back to near the 50 euro mark in October – an increase of a good 135 percent since the Corona low in March. According to a trader, smaller profit-taking can therefore be expected in the course of Friday. The day before, the stocks had slumped to just under EUR 47 in the wake of the overall market weakness.
JPMorgan analyst Jose Asumendi still has a lot of confidence in the papers with a price target of 67 euros. This is how much they had last cost in May 2018. In the past third quarter, the carmaker developed brilliantly, he wrote in his current assessment of the results. He also sees the numbers as a positive signal for the entire industry./ajx/jha/