Jefferies upgraded Mercedes-Benz Group AG to a Buy rating from Hold on June 29, 2026. Analysts report that the automaker leads German competitors in restructuring pace and new product launches. The firm also highlighted the company's consistent share buyback program.
Jefferies reduced its price target for the stock to €52 from €60. This change reflects revised free cash flow estimates. The bank cited supportive margin guidance and cost-cutting progress as primary drivers for the upgrade.
Strong momentum in Europe and a helpful product mix in the U.S. are bolstering performance. These factors compensate for weak Q2 sales volumes in China.