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Mercedes-Benz Group now expects car-division adjusted return on sales of 2% to 3%, down from 3% to 5%. It projects EBIT at the prior-year level of 5.82 billion euros, versus its previous expectation of a figure significantly above that level.
Jefferies kept Porsche at hold with a 49 euro target after investor-event remarks on margins and cash returns. UBS raised Volvo to buy and Bernstein upgraded Continental to outperform, while shares in the sector were mixed.