Core Viewpoint - Mercedes-Benz's performance expectations are disappointing, but the company announced a cash return of approximately €6 billion by 2026, with a yield of 11%, which enhances its performance outlook [1] Group 1: Financial Performance - The automotive business profit margin forecast is set at 3%-5%, while the market average expectation is 4%-6%, indicating a potential downward adjustment in expectations [1] - UBS has lowered the target price for the stock from €63 to €58, maintaining a neutral rating [1] Group 2: Shareholder Returns - The management proposed an unexpectedly high dividend and may further buy back shares while shareholders await a recovery in profit margins driven by products and costs [1] - The first batch of Daimler truck shares held by Mercedes-Benz is expected to be sold this year, with more sales anticipated in the future, enhancing cash return potential [1] Group 3: Market Reaction - Following the announcement, the stock rose by 1.2% to €58.35 [1]
瑞银：梅赛德斯-奔驰股东获得11%现金回报以等待复苏