RBC Capital lowered the firm’s price target on Mercedes-Benz (MBGYY) to EUR 78 from EUR 79 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results for global automakers. Sector shares have pulled back, and while consensus numbers have been scaled down, there is further downside risk to estimates amid bearish macro sentiment, with many investors wondering a deflationary period after post-pandemic price hikes has arrived, the analyst tells investors in a research note.
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