Recently we added Daimler to our portfolio after following the stock for more than 6 months. Daimler fits the Manivest criteria very well, and we see a significant upside in the stock the coming years. Daimler is down more than 24% in the last 12 months, but they still report strong numbers. We entered the stock just around 55 euro the first time, and have been adding to our portfolio up to 62 euro. We have a price target of 80 euro, which is still below the all time high of more than 92 euro.
Recently Daimler reported a strong quarter with every division reporting growth except the truck division. The truck division was fined a 1 Bn Euro fine by the EC due to cartel activities in July. This was however largely expected by management, and a significant amount had already been reserved for the purpose.
We see very strong numbers with a P/E around 7,7 and a dividend rate of 5,49. ROE is around 14,9%, dividend coverage is above X2 and the company has zero debt!
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