Is Mercedes Stock A Buy At $65?

Is Mercedes Stock A Buy At $65?

Share to Linkedin Mercedes logo is seen in the paddock before the Formula 1 Abu Dhabi Grand Prix at Yas Marina Circuit ... [+] in Abu Dhabi, United Arab Emirates on November 20, 2022. (Photo by Jakub Porzycki/NurPhoto via Getty Images) Mercedes-Benz stock (OTCMKTS: MBGAF) has gained almost 20% over the last month, following a strong set of Q3 earnings and broader gains in global stock markets. Over the quarter, revenue rose almost 19% year-over-year to 37. 7 billion euros (about $37. 5 billion), as deliveries expanded after multiple quarters of supply chain and semiconductor supply-related issues. Mercedes-Benz car sales rose 38% year-over-year to 530, 400 units, marking a sharp reversal from Q2 2022 when volumes dipped by about 6% year-over-year. Net profits also rose by about 35% to 4. 0 billion euros, despite inflation-related pressures, partly due to a favorable model mix. Mercedes has been prioritizing the delivery of more premium vehicles and trims in recent quarters with its top-end luxury vehicles accounting for 15% of overall sales over the last quarter. However, despite the strong numbers over the last quarter, we remain neutral on Mercedes, with a price estimate of about $64 per share, which is roughly in