Mercedes-Benz Group announced on Thursday that it had sold its stake in Russia’s Kamaz.

The transaction was finalized this month after all required regulatory approvals were secured, the premium car maker said.

However, Mercedes-Benz Group provided no details in regard to the transaction’s value or who the buyer was.

Stock Performance

The shares of Mercedes-Benz Group AG (MBG) were last gaining 2.08% (EUR 1.36) to trade at EUR 66.89 on Xetra on Thursday, as they extended the small gain from the previous market session.

Earlier during Thursday’s trade, the shares went up as high as EUR 67.17, or a price level not seen since September 25th 2023 (EUR 67.27).

The auto maker’s total market cap now stands at EUR 71.326 billion.

The shares of Mercedes-Benz Group AG (MBG) went up 1.87% in 2023, compared with a 20.31% gain for the benchmark index, DAX (GDAXI).

The premium car maker’s shares have risen 6.94% so far this year.

Analyst stock price forecast and recommendation

According to TipRanks, at least 8 out of 15 surveyed investment analysts had rated Mercedes-Benz Group AG’s stock as “Buy”, while 6 – as “Hold”. The median price target on the stock stands at EUR 75.43, which translates into a 12.77% upside compared to the last price during Thursday’s trading session.

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