Mercedes-Benz downgraded to Underweight from Equal Weight at Barclays

Barclays downgraded Mercedes-Benz (MBGYY) to Underweight from Equal Weight with a price target of EUR 48.50, down from EUR 65. Mercedes’ mixed Q3 results and Q4 guidance “left more questions than answers,” says the analyst, who adds that the firm’s estimates are “too far below consensus to retain” an Equal Weight rating on the shares. Noting that Mercedes will update at its February Capital Markets Day, the firm notes that in the meantime its 2025 and 2026 forecasts are 7% and 17% below Bloomberg Group EBIT consensus at this point, respectively.