** Laying out its 2025 outlook, Morgan Stanley says it sees a "rising tide" for truck makers, expecting better freight conditions and emissions regulations to drive upside
** It sees the U.S.-Mexico tariff outcome as a key next catalyst, which will likely determine a choice between investing in Daimler Truck DTGGe.DE or Volvo VOLVb.ST
** MS prefers Daimler Truck on its significant North America exposure, and keeps its "overweight" rating
** Still, it upgrades Volvo to "overweight" from "equal-weight" and hikes PT by almost 20% to SEK 323 as it will benefit from emissions regulations
** "Volvo presents a way to play the emissions story with less volatility post pre-buy and no exposure to potential tariffs, unlike Daimler Truck," MS says
** It lowers its PT on Iveco IVG.MI on overall stock volatility and Traton 8TRA.DE on supply chain risks, but remains "equal weight" on both
COMPANY | NEW RATING | OLD RATING | NEW PT | OLD PT |
|---|---|---|---|---|
Volvo | Overweight | Equal weight | SEK 323 | SEK 271 |
Daimler Truck | n/a | Overweight | EUR 48 | EUR 44 |
Traton | n/a | Equal weight | EUR 32 | EUR 34 |
Iveco | n/a | Equal weight | EUR 12.5 | EUR 14 |
(Reporting by Anna Chaberska)
((Anna.chaberska@thomsonreuters.com))
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。