DaimlerChrysler "add," estimates reduced

11.07.06 - Dresdner Kleinwort Wasser.

LONDON, July 11 (newratings.com) - Analysts at Dresdner Kleinwort maintain their "add" rating on DaimlerChrysler (DAIC-EUR), while reducing their estimates for the company. The target price is set to ?52.

In a research note published this morning, the analysts mention that new models are being produced by the company on flexible manufacturing lines, which aids in the adjustment of production according to demand. DaimlerChrysler is expected to generate operating profits of $1.4 billion in 2007, the analysts say. The company?s performance in 2Q and 3Q has been lower than expected, Dresdner Kleinwort adds. The EPS estimate for FY06 has been reduced from ?2.89 to ?2.43.