NEW YORK (dpa-AFX) - The US investment bank Bank of America (BofA) has upgraded Knorr-Bremse from "Underperform" to "Neutral" and raised its price target from 50 to 60 euros. In view of the difficult outlook for European commercial vehicle manufacturers in 2024, investors should be selective, wrote analyst Virginia Montorsi in an industry outlook published on Friday. She favors Daimler Truck as a beneficiary of its strong positioning in North America and of self-help measures to increase margins. Meanwhile, at supplier Knorr-Bremse, the decline in share price and estimates better reflected the weak earnings momentum and margin pressure./gl/edh

Publication of the original study: 05.01.2024 / 00:30 / EST First dissemination of the original study: 05.01.2024 / 00:30 / EST

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