DZ Bank Cuts Daimler Rating to Hold from Buy -- Market Talk

Features Dow Jones Newswires

1133 GMT - DZ Bank downgrades Daimler (DAI.XE) to hold from buy, citing continued fallout from the diesel emissions scandal. DZ Bank lowers the target price for Daimler to EUR62 from EUR70, noting ongoing investigations involving Daimler and allegations of a possible "cartel" of German car makers. The emissions-reduction measures tabled at Germany's recent "Diesel Summit" may not be sufficient to avert a proposal to ban all diesel cars, seeing as the scandal is becoming a German election topic, DZ Bank says. Daimler shares trade 1.2% lower at EUR61.14. (Max.Bernhard@dowjones.com)

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August 29, 2017 07:48 ET (11:48 GMT)