Oddo BHF confirms its 'outperform' opinion on Traton, with a price target raised from 28 to 40 euros, which includes an increase in estimates, the updating of peer multiples and its discount to Volvo (given its weaker balance sheet).

The research firm points out that the German truck manufacturer published solid quarterly results on Tuesday morning, beating expectations, and posted a similarly confident guidance for 2024.

"This confidence seems credible to us in view of the many levers available to the group in each of its divisions", believes the analyst, who sees in the dossier "an attractive and undervalued industrial story".

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