DaimlerChrysler "neutral," target price raised

16.02.07 - UBS

NEW YORK, February 16 (newratings.com) - Analysts at UBS maintain their "neutral" rating on DaimlerChrysler (DCX). The target price has been raised to $53.

In a research note published yesterday, the analysts mention that that despite DaimlerChrysler?s announcement of considering strategic options with partners, a Chrysler exit is unlikely. DaimlerChrysler has to fund the legacy burden before it spins-off Chrysler, the analysts say. Chrysler?s restructuring is expected to result in savings of $2.8 billion in 2009, UBS adds.